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State Library 



OF 



MASSACHUSETTS. 



A. 



Return as Soon as Used. 



PUBLIC DOCUMENT .... .... No. 9. 



FOKTY-FOUKTH ANNUAL REPORT 



OF THE 



Insukance Commissioner 



OF THE 



&0mm0ixfo£altjj af lltessarlpsttts* 



January 1, 1899. 



PART II. 

LIFE, CASUALTY AND ASSESSMENT INSUKANCE. 



BOSTON : 

WRIGHT & POTTER PRINTING CO., STATE PRINTERS, 

18 Post Office Square. 

1899. 



A 



TABLE OF CONTENTS 



[For Index to Companies, see end of volume.] 



COMMISSIONER'S REPORT. 

PAGE 

Introductory, v 

Cost Values, vi 

Three Per Cent. Premium and Reserve Standard, .... viii 

Interest Rates upon Investments, xi 

End of Assessmentism in Massachusetts, xiii 

Limitations of Fraternalism xxi 

Examinations, xxv 

Statements concerning Insolvent Companies in the Hands of Re- 
ceivers, xxvii 

Statistical Tables, Ratios, etc. (Regular Life) : — 

Table A. — Summary of Income, Expenditures, Assets, Liabilities, etc., xxxviii 

Table B. — Ratio of Real Estate and Other Investments to Gross Assets, xl 

Table C. — Disbursements in Detail, xliv 

Table D. —Mean Amount insured and Death Claims for the Year, . xlviii 

Table E. — Policies issued, terminated and gained in 1898, ... 1 

Table F. — Classification of Policies and Insurance in Force, ... lii 

Table G. — Policies ceased in 1898, with Mode of Termination, . . liv 

Table H. — Massachusetts Business, 1898, lvi 

Table I. — Miscellaneous Insurance Corporations, — Accident, Fidelity, 

etc., lviii 

Massachusetts Life Insurance Companies, 1 

Life Insurance Companies of Other States, 45 

Casualty and Surety Companies, 227 

Assessment Life and Casualty Corporations, 317 

Table 1. — Assets, Income and Expenditures, 318 

Table 2. — Certificates issued, ceased and in Force, with Massachusetts 

Business, 320 

Detailed Statements, 323 



IV TABLE OF CONTENTS. 

PA',E 

Fraternal Beneficiary Associations, 369 

Record of Changes, 371 

Table 1. — Name, Location and Officers, 373 

Table 2. —Income, Expenditures, Assets, Membership, . . . . 388 

Table 3. — Corporations exempt 402 

Detailed Statements: — 

Massachusetts Associations, 403 

Associations of Other States, 437 



Cmmontoealtfci of Hfessat|MSjetts. 



Insvbance Department, State House, Boston, May 25, 1899. 
To the Honorable the Senate and House of Representatives. 

Herewith is presented Part II. of the forty-fourth annual 
report of the Massachusetts insurance department. This volume 
includes insurance of all classes other than fire and marine. As 
usual, the tabular statements are presented under three heads, 
the old-line or legal reserve companies being grouped together, 
the assessment companies also being considered by themselves, 
and the fraternals constituting a third group. 

The changes that have taken place by reason of admissions 

and withdrawals since the publication of the last report in 

companies other than fraternals are shown in the following 

tables : — 

Companies authorized to do Business. 



Name op Company. 


Location. 


Business 
authorized. 


Date of 
Admission. 


Maryland Casualty Company, . 
Massachusetts Stieet Railway Accident 
Association. 

New Amsterdam Casualty, . 
General Accident Assurance, . . . 


Baltimore, . 
Boston, 

New York City, 
Scotland, . 


Accident, . . . 
Accident, 

Burglary, 
Accident, . . 


1898. 

March 21. 
April 14. 

1899. 

Feb. 4. 
May 13. 



Companies ceasing to do Business. 



Name op Company. 



Classification. 



Date. 



Remarks. 



Mercantile Mutual Accident, 
Atlas Accident, . . 

World Accident, . 
Massachusetts National Life, 
Industrial Mutual Accident, . 

Natural Premium Life Asso- 
ciation. 

Equitable Accidentlnsurance 
Association. 

Berkshire Health and Acci- 
dent. 

Greylock Beneficiary, . 



Springfield Mutual Life, 



Assessment, 
Assessment, 

Assessment, 
Assessment, 
Assessment, 

Assessment, 

Assessment, 

Assessment, 

Assessment, 

Assessment, 



1898. 

Feb. 7, 
Jan. 14, 

Jan. 17, 
March 7, 
April 19, 



Aug. 12, 
Aug. 16, 
Dec. 7, 

1899. 

March 23, 



Chas. E. Shattuck, receiver. 

Reinsured in the New England 
Mutual Accident. 

T. W. Perkins, receiver. 

Geo. Kress, receiver. 

Reinsured in the Equitable Acci- 
dent. 

Charter lapsed. 

Wade Keyes, receiver. 
Alpheus Sanford, receiver. 
A. A. Folsom, receiver. 

Reinsured in the Fidelity Mutual. 



VI REPORT OF THE 

Cost Values. 

In the balance sheet blank for the returns of life insurance 
companies, as originally made up, the purpose was to trace in 
a clear and practical way the progress and movement of the 
business from beginning to end of year and from year to year, 
in a consistent and logical sequence. 

It started out by giving in a single sum the " net or ledger " 
assets, as shown at end of next previous year, adding to this 
the income of current year and deducting the outgo, leaving a 
balance which must be matched by the attendant statement of 
ledger assets then on hand. Following this was to be a state- 
ment of any other accrued values or claims that had not been 
realized in such form as to have place in the ledger accounts, 
although of real and admitted value. 

From the nature of this ledger account nothing could appear 
in it except such items and such values as represented the pre- 
cise amounts that had passed out of the treasury in cash or its 
equivalent for their purchase or investment ; as, for example : — 

Real estate, actual cost. 
Bonds or stocks, actual cost. 
Mortgages, actual cash loaned. 
• Collaterals, actual cash loaned. 
Policy loans, actual cash loaned. 
Premium notes, actual cash forbearances. 
Other items at cost. 
Cash. 

All these items of ledger assets were expected to remain at 
their original cost price, and to be so reported until finally dis- 
posed of. In case of actual loss or depreciation from cost, the 
amount of such ascertained loss would be entered under the 
footing of total ledger assets, and deducted therefrom ; and in 
like manner any appreciation above cost would also be entered 
below, and go to increase, not the ledger, but the admitted 
assets. 

In this way it w T as intended to keep the ledger items at their 
actual cash cost, but at the same time to show any change in 
the subsequent market values, thus giving the company the 
advantage of exhibiting the actual worth of its property as 
well as its cash cost. 



INSURANCE COMMISSIONER. Vll 

This was the original theory of the ledger asset exhibit in 
the blank, but as time went on apparent inconsistencies de- 
veloped which seemed reasonably to call for modification or at 
least explanation. Take, for example, a purchase of bonds 
which at date of investment held a market value considerably 
in advance of their par. In course of time naturally this pre- 
mium should decline from year to year, until at or near their 
maturity their actual and market worth would be simply their 
face or par. If, then, the ledger assets should continue to carry 
their cash cost, there would be needed each year a greater and 
greater allowance for depreciation. This to a person skilled in 
these accounts would be easily understood and unobjectionable ; 
but to one not skilled, and especially under the inspiration of 
an interested rival in business, an unfavorable comment might 
be impressed, and the company's management and progress 
unworthily criticised. 

To obviate this, it was suggested that these successive depre- 
ciations should be charged off through profit and loss, and the 
so-called cost item be modified to bring and keep it nearer cur- 
rent market value. In such case of course the term "cost 
value" would not represent the then fact, and it was agreed 
that the name should in such case be changed to " book value." 

This change was accordingly allowed, and was, and would 
still be, unobjectionable, if the original intent had always been 
kept in view. But in lapse of time it became apparent that this 
view was not in all cases the guide, but that, instead of always 
marking down, if any change at all was made, sometimes the 
opposite seemed to have been the case, and items had appar- 
ently been increased above cost as originally entered, although 
no corresponding entry appeared in profit and loss. 

To ascertain the extent of this departure, and what is the 
practice of the individual companies, a circular letter was ad- 
dressed to each one by this department. The replies indicate 
that in a majority of instances no change whatever has been 
made of original entries, and that cost and book values with 
them are identical. In others the changes made had been only 
in the direction of reducing the cost entry. But in a few 
instances the rule has been made to work, as claimed, logically 
in both directions. The impropriety of this latter usage, how- 



Vlll REPORT OF THE 

ever, appears in the fact that generally in such cases there hap- 
pened to be an unlucky piece of property, whose value had so 
considerably declined as to make cost show badly in comparison 
with present worth, and so a slice had been taken from the cost 
of this and put into another and more fortunate block, whose 
value had so appreciated since purchase as to make its thus 
increased cost unnoticeable. 

Of course the effect of such practice must be to entirely 
demoralize and render valueless the whole original scheme of 
"net assets" for purposes of comparison and of tracing the 
actual course of a company's cash transactions. And if such 
usage is to become in any way general, it would be better to 
abandon the whole theory, and return to the old system of gross 
balances. For, if a burden of cost may be deliberately taken 
from a weak property and placed upon its more vigorous 
neighbor, leaving the total unchanged, then is the account 
"booked" with a vengeance, and no one except by a special 
investigation of the entries in connection with the cash book 
itself could tell head or tail of actual or " booked " costs. 

Three Per Cent. Premium and Reserve Standard. 

The opinion has been heretofore expressed in these reports, 
and there seems no good reason to vary it, that the present 
standard of 4 per cent, is conservative and sufficient, and that 
there now appears no adequate and prudent excuse for requiring 
the companies to call upon the public for any higher premium 
payments or for piling up any greater reserves than the present 
standard demands. If no other reason for this conclusion was 
before us, the fact is that the companies with few exceptions 
are continuing to return substantially the same rates of dividends 
and at the same time largely increasing their surplus, inde- 
pendent of market fluctuations. 

The only justification there could be for increasing the rates 
of premium and adding to the present reserve accumulations is 
in one or both of two considerations, — the inadequacy of the 
provision for current mortality demands, and the improbability 
of being able to continue to realize 4 per cent, interest on the 
reserve investments. 



INSURANCE COMMISSIONER. IX 

As to the first : the contingency of greater mortality loss, 
upon well-selected risks, than is called for by the mortality 
tables in use, — and to hedge against which was one of the 
purposes of the loading upon the premiums, — -may now, under 
the proofs of experience, apparently be disregarded with safety. 
For, taking the whole history of the life insurance business in 
the United States, there are, so far as any accessible records 
show, only two of the regular or old-line companies, which had 
acquired a sufficient extent of business to assert normal averages, 
which have been injuriously affected by any excess of mortality 
over that assumed by the table basis ; and these cases, under 
the management which led to their troubles, would undoubtedly 
have been wrecked in some other as imprudent direction if they 
had not in this. 

Nothing is more uncertain than human life in individual 
cases ; but, grouped in large numbers of equal ages and con- 
ditions, a certain rule of actual failures of life is found to run 
throughout, which enables calculations to be made within nar- 
row limits as to the numbers and averages to be expected, and 
hence the premiums needful to be charged to meet insurances 
upon them. The table employed as the standard in this Com- 
monwealth is made up from the actual experience of a number 
of companies upon selected healthy lives when admitted to 
membership, and should therefore, if controlling conditions re- 
main the same as then, furnish a fair and reasonable rule for 
the expected history of the business. 

It is well known and should be more earnestly appreciated 
that in the younger or growing period of a company's life, while 
the great mass of the risks have only recently been selected 
and all enter alike sound and unimpaired, the general average 
of mortality is not then expected to be realized ; and it is only 
when the company gets to a growth and condition where the 
entrants and retirants of the membership become about equal, 
that the lives, having largely outgrown the benefit of the medical 
selection, have gravitated towards the general average conditions 
of the whole population ; it is then the mortuary standard is 
expected to exert more nearly its full and normal force, and 
thenceforward the insurance cost more and more nearly con- 
forms to its indications. 



X KEPORT OF THE 

Up to this time in the present American companies generally 
the history has been one of growth in membership and volume, 
— only in rare instances has there seemed to happen a stand- 
still ; and the facts have been as expected, and a saving from 
the amount of losses called for by the mortality standard has 
resulted. But there must always come a time where anything 
gets to its biggest, and beyond which it cannot grow. This 
applies forcibly to life insurance companies. The time must 
come to every one of them when it is absolutely impracticable 
to increase the size of membership or amount insured ; with 
the greatest energies and exertion, they will not be able to gain 
into the mass more than naturally and surely drift away. Take 
the greatest and strongest of our American companies to-day, 
and compare their percentages of gain of insurance from year 
to year all along the backward track for twenty years, and see 
what a tremendous struggle and toil it now requires to keep up 
and go forward the smallest degree. When the time comes, 
as it inevitably must, that no added or further growth is practi- 
cable, it does not mean a weakening or deterioration of the 
institution, but it does mean that it has got to its normal, 
natural and healthiest condition, and that its mortality will have 
risen toward the rate expected in the formation of the table, 
and there remain in equilibrium as long as the membership is 
kept up to the standard average. Or, even if there were no 
further accessions to membership, and the company should 
dwindle to extinction by the natural operation of mortality, the 
last policy, through the theory of premium and reserve, should 
be carried safely to maturity. But a life company is not builded 
for a year or a decade, but for generations. From a recent 
study of this subject in the policy records annually filed and 
adjusted in the department, from correspondence with the com- 
panies and from the conclusions of the best experts in these 
matters, it is evident that in no case, in recent years, of a well- 
established company, has the experience exceeded 94 per cent, 
of the table, while the average in the normal condition is be- 
tween 86 and 91 per cent. This excludes such of the lives as 
have been accepted within the term of selection benefit, — about 
five years of policy age. If these were also included, the ratio 
to the table, for reasons above given, would be considerably 



• INSURANCE COMMISSIONER. XI 

lessened. Neglect or ignorance of this fact has no doubt misled 
those who claim that the present standard is extravagantly high, 
and might in the interests of economy be essentially lowered. 

The Actuaries or Combined Experience Table therefore proves 
an ample and satisfactory measure for the expectation of the 
American companies ; not to agree exactly with it, by any 
means, — no table could even by miracle do that, — but a 
wholly sufficient rule, the variations from which under any 
excusable conditions are always quite sure to be on the side of 
safety, and the surplus resulting from a saving in this respect 
is readily and gratefully acceptable in so-called dividends. 

In this view, then, there appears no need whatever for any 
increase of the premium rates or the loading thereon for any 
of the purposes relating to the mortality costs now or prospec- 
tively to be met by the companies. 

Interest Rates upon Investments. 

The other consideration which regulates the size of premiums 
and reserves is the rate of interest that is confidently expected 
to be realized upon the investments. The standard rate at 
present fixed by law is 4 per cent. 

As to this, taking the experience of the companies generally 
and severally, there does not appear at present or in prospect 
any indication, not only that the rates actually realized are not 
up to the full demand of the most stringent requirement of any 
State, with in most cases a margin of full 1 per cent, beyond, 
but there is not, in the view of common business judgment or of 
the best financial philosophy, any present indication of a further 
serious decline in rates upon the best class of life insurance in- 
vestments within a generation. Of course it is vastly easy for 
speculators and visionaries to sit down and imagine at how low 
a rate government bonds may possibly be placed, or what may 
be the lowest rate banks may be obliged to accept ; but that is 
not life insurance financiering. It is all very well to talk about 
railroad stocks and bonds, bank stocks, trust shares, city houses 
and the like, and the rates of income they are likely to produce ; 
but when you know that your farm, which is accessible to the 
market, is fertile and productive, that it will be there as firm 



Xll REPORT OF THE 

as the hills around it when these banks and trusts and city 
houses have ripened and decayed, or your broad acres of prairie, 
rich, fat and deep, from which the food and clothing of the 
world must forever come, and you wish to borrow upon a mort- 
gage of it a sum not over half its salable value, and are asked 
and willing to pay 5 or 6 per cent, interest, — are you ever led 
to inquire why that would not be about as good an investment 
for a savings bank or life insurance company as the aforesaid 
properties at half that rate of interest ? If the land upon which 
we live and from which is derived everything material we can 
possess or enjoy is not permanent, substantial and always to 
be valuable, what is? If securities based upon well-selected 
real estate are sure and enduring, and when such securities are 
always abundantly to be had by a little intelligent exertion, and 
the rates they are always willing to pay are much better on the 
average than any other, why should they not be still more gen- 
erally sought for than they are ? If there is not some objection 
to these properties that has not been told, why not use some- 
thing of the exertion implied in the quest by the solicitor for 
insurance, and not leave the vital matter of investment of funds 
to slipshod chance or the whims of some office hermit ? It is of 
as great importance that the premiums when received should be 
industriously, intelligently and economically handled as that 
the insurance should be sought in the first place. It would 
seem rather an embarrassing position for a life fund loaner to 
be confronted with the query of how he reconciles the rates he 
asks and obtains on such loans with the constant and querulous 
pretence that he cannot realize more than 3 or 3% per cent, on 
his money. 

It is necessary to the performance of this trust that the rate 
of interest assumed in the basis of premiums and reserves shall 
actually be realized on the investments ; and, if 4 per cent, 
can be obtained, it is sufficient that the premiums should be 
based on that rate. But, if only 3 per cent, can be earned by 
the funds, then the premiums must be based on this lower rate, 
and will be all the way from 10 to 20 per cent, higher than the 
4 per cent, premiums, and the people who purchase the in- 
surance must pay this higher charge. But, if 4 per cent, can, 
as there seems no doubt, now and in prospect be obtained, there 



INSURANCE COMMISSIONER. Xlll 

certainly should in all manliness and good faith be an endeavor 
in that direction, which, if sincere, will be successful. 

The reserves should be held in best-earning sure investments, 
and among these there is no better model or one more gen- 
erally unobjectionable than well-selected mortgages, one great 
advantage of which is the absence of market fluctuations ; 
another, the better average rates of interest ; and another, the 
unlimited amount of them always to be obtained by a little 
respectable exertion on the part of the financiers. According 
to the evidence of the schedules attached to the annual state- 
ments of the companies, the average rate of the mortgages now 
held is considerably above 5% per cent., — fully 1 per cent, 
higher than the average upon all other investments of the com- 
panies. As to their safety, compare the losses under foreclosure 
sales with the loss by shrinkage of premium on bonds as they 
go towards maturity, to say nothing of the fading out altogether, 
now and then, of a bunch of the principal. 

The use here of the single illustration of mortgage loans need 

© © © 

not imply a particular prejudice in favor of that special class 
of investments, but only in a general sense an insistance that 
abundant good-paying purchases or loans may be- had by better 
industry in seeking for them. 

For these principal reasons the commissioner sees no present 
justification for requiring the companies to charge their policy 
holders from 10 to 20 per cent, more for their insurance than 
they are now paying, or withholding an equivalent amount from 
their dividends, as would be necessitated by a change from the 
4 to 3 per cent, basis. The call for a change among the com- 
panies is by no means general, nor, in his opinion, is it an 
indication of an awakening conservatism or economy in the 
conduct of the business ; for, if these were the motive, it would 
easily manifest itself in the direction of abating instead of in- 
creasing the outlays, as indicated by the constantly advancing 
expense ratios. 

End of Assessmentism in Massachusetts. 
With the passage by the General Court of this year of an 
act * * Relative to domestic and foreign mutual assessment life 
insurance corporations," the business of insurance upon that 



XIV REPORT OF THE 

system in this Commonwealth ends so far as the issue of new 
policies is concerned, the corporations being allowed simply to 
carry out the contracts already lawfully made, so far as they 
are able, without interference by the State. The act is as 
follows : — 

[Chap. 229, Acts of 1899.] 

Section 1. Any corporation of this Commonwealth now authorized 
to transact the business of life insurance, under chapter four hundred 
and twenty-one of the acts of the year eighteen hundred and ninety 
and acts in amendment thereof, may, by vote of a majority of its 
members present and voting at a special meeting called for that pur- 
pose, of which meeting a written or printed notice shall have been 
mailed to each member at least ten days before the date fixed for 
such meeting, accept the provisions of this act and the provisions of 
chapter five hundred and twenty-two of the acts of the year eighteen 
hundred and ninety- four and of acts in amendment thereof relative to 
life insurance, and shall thereafter, except as herein specifically pro- 
vided, transact business in accordance with and be governed by the 
provisions of said acts. 

Section 2. A copy of the vote of the members designated in 
section one of this act, sworn to by the president and secretary and a 
majority of the .board of directors as being a true copy, shall be filed 
with the insurance commissioner, who shall issue to such corporation 
a certificate of authority to transact the business of life insurance, in 
accordance with the provisions of this act and of said chapter five 
hundred and twenty-two, so far as the same may be applicable. 

Section 3. Any corporation organized under authority of any 
other of the United States to insure lives on the assessment plan and 
now doing business in this Commonwealth, shall upon compliance 
with this act be relicensed and authorized to transact a general life 
insurance business in this Commonwealth, upon filing with the insur- 
ance department of the state all the papers and documents and making 
the payments required under the Massachusetts insurance act of 
eighteen hundred and ninety-four and acts in amendment thereof, so 
far as the same are or may be applicable, and all business thereafter 
transacted by such corporation shall be done in accordance with and 
governed by the provisions of said chapter five hundred and twenty- 
two, except as provided in this act. 

Section 4. Every such corporation of this state, or of any other 
of the United States, upon complying with the requirements of this 
act, is hereby authorized to carry out in good faith its contracts here- 
tofore made with its members, but all policies or certificates of insur- 



INSURANCE COMMISSIONER. XV 

ance heretofore issued by such corporations and now remaining in 
force which contain a provision for a payment other than the premium 
stipulated therein, and under which the duration of premium payments 
is co-equal with the duration of the contract, endowment policies and 
endowment certificates excepted, shall be valued and reserve main- 
tained thereon on the basis of renewable term insurance as fixed by 
attained age, in accordance with the provisions of said chapter five 
hundred and twenty-two and of acts in amendment thereof. To the 
reserve liability determined as above the insurance commissioner shall 
add the determinate contract reserve under any other policies or cer- 
tificates heretofore issued and remaining in force, and in the absence 
of such contract reserve shall value them as contracts providing sim- 
ilar benefits are to be valued under the provisions of said chapter five 
hundred and twenty-two : provided, that under no policy or certificate 
shall a greater aggregate reserve liability be charged than is required 
by said chapter. 

Section 5. After the first day of July in the year eighteen hun- 
dred and ninety-nine no policy or certificate of life insurance under 
the provisions of chapter four hundred and twenty-one of the acts of 
the year eighteen hundred and ninety and of acts in amendment thereof 
shall be issued by any such corporation, unless made subject to and 
in compliance with the provisions of this act. All policies of life 
insurance issued by any such corporation after said date, whether or 
not they contain a provision for a payment other than the premium 
specified therein, shall be valued, taking the first year as one year 
term insurance, and the reserve maintained thereon, according to the 
provisions of said chapter five hundred and twenty-two and of acts 
in amendment thereof : provided, however, that the following words 
of this section, "taking the first year as one year term insurance," 
shall not apply to any policies issued on or after the first day of 
January in the year nineteen hundred and three. 

Section 6. All parts of chapter four hundred and twenty-one of 
the acts of the year eighteen hundred and ninety and of acts in amend- 
ment thereof which relate to the formation of corporations to transact 
the business of life insurance, or which provide for the regulation of 
the business of life insurance by such corporations, and all other pro- 
visions of said acts, except such as relate solely to the formation and 
regulation of corporations organized for the transaction of accident 
or casualty insurance, and chapter five hundred and fifteen of the 
acts of the year eighteen hundred and ninety-six, are hereby repealed. 

Section 7. All acts and parts of acts inconsistent with the pro- 
visions of this act are hereby declared not to be applicable to any 
such corporations organized under chapter four hundred and twenty- 



XVI REPORT OF THE 

one of the acts of the year eighteen hundred and ninety and acts in 
amendment thereof. 

Section 8. This act shall take effect on the first day of July in 
the year eighteen hundred and ninety-nine. [Approved April i, 1899. 

This act therefore practically closes the drama which has run 
for twenty years, and has evoked perhaps the greatest variety 
and intensity of emotions of any scheme of business or social 
enterprise within the history of the Commonwealth. A brief 
official record of its rise, progress and decay seems here appro- 
priate and fitting. 

The first scene opens in the most gentle and innocent way 
possible with the enactment of the statute of 1873, permitting 
societies formed for charitable, religious, educational and other 
like purposes to attach to their organizations a plan for the 
relief of the widow or orphans of a member, by an equal and 
uniform voluntary contribution of the membership. This act 
was amended from time to time, but neither itself nor the plan 
it permitted attracted any considerable attention, nor was it 
apparently availed of to any noticeable degree, as it was wholly 
subsidiary and incidental to the more important and active pur- 
poses of these organizations. 

In 1877, however, it occurred to some one that this livery 
of a gracious plan of modest mutual helpfulness might be made 
to cover a scheme of combined charity and profit, and to work 
the "greatest good to the greatest number," — this greatest 
number, as afterwards proved, was number one (or two, or at 
most not greater than ten) . And the furtherance of this was 
effected by causing to be introduced into the law a simple, 
harmless-looking clause, just following along in unostentatious 
sequence, — "and associations may be formed under said act 
for the purpose of rendering assistance to the persons and in the 
manner above specified." 

When the possibilities under this act dawned upon the com- 
munity, the effect in the origin and promotion of the new system 
is excellently described in the forty-second annual report of this 
department, a portion of which is here quoted : — 

Here stepped in the scheme of assessment insurance. The move- 
ment, it cannot be denied, was in large measure a protest against 



INSURANCE COMMISSIONER. XV11 

wrongs the people had suffered from the failed old-liners, and, if it 
could have been held intelligently to its legitimate scope, — that of 
furnishing temporary insurance at actual temporary cost, — and not 
been allowed to essay the impossible, it might have remained a per- 
manent and helpful ally to the whole life and endowment plans of 
the old-liners, and proved lastingly useful, as it has undoubtedly done 
temporarily in hundreds of thousands of cases, — a gracious boon, — 
in spite of its impossible assumptions. 

But no sooner was the door open by the legislative action than the 
ubiquitous and inevitable promoter and perverter rushed in, beating 
the air with his clap- trap cries of "Pay as you go," "Pass the hat 
when claims arise," "The reserve is a crime," "Keep your reserve 
in your pocket," "The old-liners are robbers," " Go as you please," 
etc., — wholly heedless and impervious to the inexorable fact that as 
age advances deaths become more and more frequent, and hence the 
calls are more and more loud, frequent and imperative, until further 
payments must become impossible, and the concern sinks of its own 
weight, carrying with it a mass of unprotected age, helplessness and 
misery, and the burning proof that whole life insurance cannot per- 
manently be done on the assessment plan. 

The cry was alluring, and the public flocked to it by legions. 
Immediately following the passage of the law there were organized 
here some three-score corporations for the "transaction of life insur- 
ance upon the assessment plan." * It will be noticed that the new law 
simply permitted the formation of associations for this purpose, with 
the single exception that policies should not be issued with a fixed 
premium, but was otherwise wholly silent as to what that plan was, 
and placed no limitations to the methods by which it should be con- 
ducted, — not a single definition or regulation by which even the most 
palpable frauds and absurdities might be checked or repressed. This 
oversight has been a theme of constant and unlimited wonder, in 
view of the scrupulous and jealous anxiety evinced by the Legis- 
lature in regulating the affairs of the Massachusetts old-line life com- 
panies by rules so stringent as to be in some directions almost 
prohibitive to their business. 

Many of these new-formed associations were organized by well- 
known and esteemed men of great integrity and business ability in 
other directions, under the professed and evidently sincere purpose 
of furnishing to their neighbors and fellow citizens a protection for 
their families in as safe and much cheaper way than could be obtained 
from the old-line companies. And the fate of their enterprises only 
proves again the old maxim that "honest ignorance may be more 
dangerous than designing fraud." Others, again, started in with less 



XV111 REPORT OF THE 

philanthropy but more business intention, and still others, and the 
majority were on the " dead make." 

The boom was lively and the air abuzz, and a merry seed and 
harvest time for awhile ; but soon the palpable absurdity of promise 
and plan of some and the greedy deviltry of others of the promoters 
came in sight, and the havoc of absorption, amalgamation and selling 
out began. Those of the more sagaciously managed, however, kept 
on, watching the evolution of the business, moving out cautiously, 
spreading and gaining in volume. 

As time went on, one of the noticeable and uncomfortable results 
of the plan sought correction. The calling of assessments whenever 
a death occurred gave the business a very jerky and desultory motion. 
A loss might occur within a week of another, or again at a much 
greater interval, so that all were made uncertain and uneasy as to 
when the assessment might fall. It was then apparent that a fund 
of some sort must be established which could promptly meet claims 
for losses, and at the same time equalize and locate the intervals of 
assessment calls ; and thus the first lesson of the need of some kind 
of a u hated reserve" was learned. Permission was asked from the 
Legislature to allow a reserve or "emergency fund" of one assess- 
ment to be at all times held for the above-named purpose. 

Soon also the failure of so many of these associations began to 
carry a suspicion of all, and it seemed necessary, in order to gain and 
hold confidence, that some pledge or fund outside of the keeping and 
control of the managers must be provided ; and so the Legislature 
was asked to permit a deposit equal to one full assessment to be placed 
in the hands of the State Treasurer as a pledge or bond. 

Soon again it seemed to the managers of such of those remaining 
as could afford it that an additional reserve or emergency fund would 
better promote confidence and secure the future against unforeseen 
chances. Permission was therefore sought to raise this fund to an 
unlimited number of assessments in the hands of the management. 

But meantime the failure of nearly all their early companions created 
a general distrust of those remaining, especially as the advancing age 
of the membership as time went on brought more and more frequent 
deaths, and the inevitable increase in amount of assessment calls. 
The early claims of superior cheapness over their old-line neighbors 
were thus rapidly losing force, and something else had to be done to 
justify their existence. 

Under the law allowing more assessments for the emergency fund, 
they had under the provisions of the statute of 1890 the right to dis- 
tribute the interest of this fund, together with any other accretions 
from time to time, back to the members in such form and time as 



INSURANCE COMMISSIONER. XIX 

they pleased. Under this privilege arose the promise of " dividends," 
" tontines," " surrender values," etc., in imitation of the old-liners; 
they also (either in absence of law or defiance of law, it is not alto- 
gether clear which) adopted in their literature and rates, which now 
began to be called " premiums," plans of level, ten and twenty pay- 
ment life policies, — in spite of the fact that the law expressly says 
that mortuary provision shall be made " not by fixed premiums." 

Incident to and growing directly out of the theory of assessment 
life insurance in its most flourishing days arose the notorious assess- 
ment endowment and bond craze. The mental process by which it 
was arrived at was this: "If, as is now apparent, the life insurance 
business of the old-liners can be carried on as safely and so much 
more cheaply by the assessment companies, so therefore can the 
endowment business of the old-liners be conducted with equal cer- 
tainty and economy by the assessment plan." And no sooner was the 
cue given to this form of speculation than it seemed to pervade and 
bewitch the whole community with its banner cries, " The poor man's 
short road to wealth," "The fatherhood of God and the brotherhood 
of man," "The wonders of the perfect number seven," "Get rich 
quick," "A fortune while you wait," and to which should have been 
added "Success to crime." The history of the rise and progress of 
those bubble schemes is too recent to need elaboration ; it is enough 
to say that in their brief career they transferred more than $12,000,000 
from the hands mainly of those least able to spare it, one-half of this, 
at least, directly to the pockets of the promoters and the shrewder 
players in the game; then, under a touch of legislation, this sham 
scheme fell apart and vanished like a shameful dream. 

The evolution now is complete ; out of the sixty-two assessment 
life companies organized under the early law only two now remain, 
and these two by successive " movements" have brought themselves, 
so far as can be done by adoption of rules, resolutions of the board, 
campaign literature and general assumption, into full-fledged old-line 
life insurance companies, in every particular except the trifling absence 
of the basement and foundation of the business, — the reserve. They 
are now in the same position, therefore, as any old-liner (of similar 
size, age and health conditions) would be if suddenly divested of its 
many millions of reserve held indispensably to protect the future of 
its policies. 

From that time onward the culmination was rapid, and every- 
one of those incorporated under the original statute has passed 
away, as well as all but three of those formed under various 



XX REPORT OF THE 

amendments. The three now remaining are of comparatively 
recent organization. 

Of the incorporations between 1877 { nd 1885, at which latter 
date a statutory separation of the assessment and fraternal asso- 
ciations was made, it is somewhat difficult to distinguish between 
their two systems of operation. But, dividing them as to those 
which in their by-laws and plans had or had not some distinct 
social, fraternal or class feature, or other object than life insur- 
ance, there are found to have been organised from the time of 
the passage of the original act in 1877 and the present date 
some sixty assessment associations. 

As compiled from their always more o * less imperfect and 
unreliable returns to the department, owing to the laxity of the 
law, the lack of authority to the commiss : oner to verify the 
statements by inspection of the records, an 1 the generally un- 
skilful methods of their accounts, there appc ar to have entered 
as members of these corporations from start to finish 242,247 
applicants, and the amount nominally insured under their cer- 
tificates was $533,373,726. The sum total collected in fees, 
dues and other charges, as reported, was $32,098,725, and the 
total paid for death and disability claims was $22,733,689. 

In most if not all of these corporations, especially in the 
earlier days, there was no return in their accounts of the entrance 
fees or the charges of the medical examiners, these being paid 
to and retained by the agents and examiners as their compen- 
sation for services, and, not coming into the hands of the officers, 
were not accounted for among the receipts, although a part of 
the cost of their insurance paid by the members, and would 
very considerably swell the income and disbursement accounts. 
The above figures also do not include the operations of the 
many similar organizations of other States which were admitted 
to business here, most of which have since failed or retired. 
The same incompleteness, and for the same reasons, as in the 
Massachusetts corporations, exists in their accounts ; but the 
best practical approximation shows that the certificates issued 
in this State were 35,511, insuring $85,201,859, while the 
losses paid in this State amounted to $2,760,241. 

If the assessment companies now remaining shall be able suc- 
cessfully to conform their methods to the requirements of the 
new law, and by sagacity and industry compel a recognition in 



INSURANCE COMMISSIONER. XXI 

the confidence of the community, they will be indeed welcome, 
for there is little doubt that the regular life companies in this 
country are all too few for the best and safest accommodation 
of the business. 

Limitations or Fraternalism. 

The payment of benefits or insurances conditioned upon the 
failure of human lives has been carried on in this Common- 
wealth under three distinct theories, and it is well to have in 
mind the exact nature and functions of the three distinct classes 
of corporations that assume to do this service, — to wit, old- 
liiie, assessment and fraternal. They are each organized and 
regulated by separate and distinct statutes, and the character 
of their business varies each from the other radically and essen- 
tially. 

First, the old-line. In these the amount of the insurance 
and the premium must be absolutely fixed in the contract, the 
former cannot be diminished nor the latter increased during 
the continuance of the policy ; and, if any benefit or liberality 
or concession is made at all, it is always in favor of the in- 
sured, and usually appears in increase of the amount insured 
or in diminution of the premium. The company must also 
at all times maintain the reserve fixed by legal standard. It 
must pay at maturity the amount originally agreed upon, and 
cannot charge a greater amount than the agreed premium. 
Failure to fulfil these obligations ends the company. 

Second, the assessment. The amount of insurance must be 
definitely stated and met in full at maturity ; but the assess- 
ment to meet the claim is not a fixed sum, and no reserve is 
required to be held to equalize future assessments. In any 
case, if the assessment which has last or ordinarily been charged 
is not sufficient to meet the claim, it must be increased until 
the needed amount is reached. Failure to secure such amount 
ends the company. 

Third, the fraternals. Under their methods the amount of 
assessment upon each surviving member payable at death of an 
associate is fixed and not to be increased ; but the amount of 
the benefit is not fixed, and must be a flexible sum, to accom- 
modate the capacity of the volume of contribution realized by 
one assessment. No reserve is provided for or needed under 



XX11 REPORT OF THE 

the theory of the fraternal plan. The certificate usually pro- 
vides for a certain named amount (as $1,000), but not exceed- 
ing the proceeds of one assessment. From this it follows that 
a fraternal, unlike either of the other classes, could not ever 
become insolvent from failure to realize the nominal sum of the 
benefit from an assessment. If only $500 or $100 or $10 were 
realized, it would satisfy the terms of the contract and dis- 
charge the obligation. Such a corporation might dry up and 
blow away, as many of them have done, but could never com- 
mercially fail. 

These are general definitions, and, as will be seen, the theories 
are essentially and radically different. They are not and cannot 
be made interchangeable, and every attempt at commingling 
them has without exception ended in the failure of the patched- 
up scheme, and usually the destruction of the corporation. 

Since the passing and disappearance of the assessment asso- 
ciations, the regular or so-called old-line companies and the 
fraternal societies are the only groups of corporations that are 
authorized in this Commonwealth to make contracts in which 
the failure of human life is a factor, either as an essential or 
incidental feature. The fraternal societies are left to operate 
practically as may best suit their own purposes, without any 
legal restraint whatever except the most general regulations 
which they have themselves procured for their protection in the 
respects they would be otherwise unable to control. There is 
and probably can be no fixed rule that should hold them to any 
uniform standard of so-called commercial solvency without 
destroying or crippling their other and in some cases probably 
more important purposes. But, while doing thus and grant- 
ing such great immunity of legal restraint over their internal 
arrangements and government, it would certainly seem of the 
first importance that the fraternal plan, its scope and functions, 
should be subject to distinct definition by statute, and that 
fraternals should be held strictly within the limits of such 
distinctive plan. This is expedient for the protection of the 
fraternals themselves and for their perpetuation and good re- 
pute ; and it is incumbent upon the Legislature, the power that 
gives them existence, to consider whether all the restrictions 
and limitations have been imposed upon their general scope or 



INSURANCE COMMISSIONER. XX111 

plan that are necessary for the accomplishment of the gracious 
purposes which the Legislature had in mind when it passed the 
original act authorizing the formation of said associations. At 
any rate, it would seem that the plan should be so clearly defined 
and limited as to preclude the idea that to be a fraternal society 
means a license to do any kind of insurance business upon any 
sort of plan its managers may please to adopt. 

Since the time when a plain separation was made by law of 
the assessment from the fraternal corporations, the tendency on 
the whole has been to leave the fraternals to work out their own 
designs with less and less governmental restraint. Each year 
the Legislature is petitioned to allow some change or enlarge- 
ment of rules, as experience is alleged to show the safety or 
value of such change. This is well, so long as the lessons of 
experience are held to as the actual guide. But for the constant 
danger of this wide-open door and freedom to attach doubtful 
schemes, we need only to remind ourselves of the assessment 
endowments, which were all upon the fraternal plan, yet their 
operations were of most pernicious character and of unfragrant 
memory. 

The two universally fatal elements of weakness and decay of 
the assessment scheme were (1) the ill-directed application of 
the insurance methods, and (2) the opportunity and invitation 
to personal aggrandizement and irresponsible control by the 
management. The circumstances disclosed in their failures 
show in every case either or both inadequacy of plan or iniquity 
of administration. It has been sought by the most prudent 
and sagacious of the fraternals to keep their orders clear of these 
influences ; the first, by not fixing the amount of the benefit, 
but allowing it, with a maximum limit, to be determined by the 
number of the contributing members ; and, as to the second, 
by always holding the control and administration in the body 
of the membership, by transacting the business subject only to 
the knowledge and consent of the lodge. So long as these two 
master principles can be maintained, there can never be bank- 
ruptcy while a single contributing member remains, nor can 
any leader derive a cent of emolument or profit except by the 
full knowledge and consent of all. 

The fraternals, as elsewhere observed, were never intended 



XXIV REPORT OF THE 

as substitutes for insurance companies, but, being formed for 
other and specific purposes, were permitted to attach, as a 
wholly incidental and subsidiary measure, by means of fixed 
contributions, a plan of mutual relief to disabled members and 
to the widows and orphans of those deceased. They were 
regarded as little republics within themselves, and the aid they 
arranged to furnish was considered as an expression of mutual 
fraternal sympathy and relief, having the grace of benevolence 
without the imputation of charity or public burden. And 
there is no reason, if kept within the purpose and scope of 
the original intention, why they should not continue to meet 
in a very acceptable manner a need to which the regular life 
insurance companies are less conveniently accessible. 

Whatever grateful and gracious purposes may be intended 
by the fraternal system, and however fully and completely 
these may be carried out, there still remains the fact that they 
were never designed to be substitutes for or rivals of the re^U- 
lar life companies in furnishing insurance as a purely business 
matter, and it is to the latter that the community must look 
for the grand and reliable effects of life insurance as a business 
enterprise. 

To show that this was the opinion of the Legislature as well 
as of the business world, it is needful onlv to look at the 
extent and intensity of the safeguards that have been built 
around not only the general plans of the regular companies 
but even the details of their operations. And so jealous has 
been the anxiety for its safety as apparently to impede in some 
directions its legitimate expansion. The Legislature enacted, 
and its decision has had the approving test of more than forty 
years' experience of the Massachusetts old-line companies, that, 
in order to make the business of life insurance secure and 
enable the companies to surely carry out their contracts, they 
shall conform the net or pure insurance part of their business 
to the amounts and values based upon the standard of the 
actuaries' table of mortality, with 4 per cent, annual compound 
interest; that, if these values are collected in premiums and 
honestly applied in payment of losses and providing the re- 
serve, and if otherwise the affairs are conducted with ordinary 
commercial prudence, the business is humanly safe. 



INSURANCE COMMISSIONER. XXV 

Obviously no such rules could be of practicable application 
to fraternal societies. But, if the Legislature had intended 
them as equivalents or substitutes to the old-line companies, 
it would consistently have applied the same rules and restric- 
tions to their operations. 

Among so great a number of fraternal societies as are now 
in operation in this Commonwealth, unless their operations are 
checked by law there will naturally be, on the part of some of 
them, in the competition for growth and volume of member- 
ship, a reaching out for attractive features with too little regard 
to their safe and legitimate applicability to the fraternal plan. 
The field and mission of the fraternals is in fraternalism and 
not commercialism ; and any departure from it, and especially 
in the direction of taking on business ventures, is sure to be 
followed with equal steps by discomfiture and disaster. The 
scores upon scores of failures in the not distant past from 
these causes is abundant corroboration of this word of caution 
and warning. 

Examinations. 

Since the publication of the forty-third annual life report of 
this department, the following-named companies have been ex- 
amined, in addition to the examinations of fire and marine com- 
panies : the Berkshire Mutual Life, Massachusetts Mutual Life 
and New England Mutual Life, — all three legal reserve life 
insurance companies chartered in this Commonwealth ; the New 
England Mutual Accident Association, Massachusetts Mutual 
Accident Association, Merchants' and Manufacturers' Life As- 
sociation, Equitable Accident Association, and the Berkshire 
Health and Accident Association, — the last-named five all 
being assessment corporations, operated under chapter 421, 
Acts of 1890. 

As a result of the examination, the Equitable Accident 
Association went into the hands of a receiver. The Berkshire 
Health and Accident Association succumbed to the adverse 
opinion of the supreme court on its right to carry on a health 
insurance business, and likewise is having its affairs closed 
through a receivership. The right of the latter company, 
which was doing business under the assessment law, to issue 
contracts to afford indemnity on account of ill health was chal- 



XXVI REPOET OF THE 

lenged by this department. The Attorney-General was appealed 
to and sustained the view of the Insurance Commissioner. The 
company, persisting in issuing such contracts, was called into 
the supreme court. The decision was against the company, 
the court holding that the statute of 1890, chapter 421, took 
away the pre-existing right of the defendant corporation to 
issue certificates providing for the payment of a weekly benefit 
to its members in cases of disability resulting from illness 
which was not caused by accident. This same rule was laid 
down by Mr. Justice Knowlton in the case of Hosea M. 
Knowlton v. the Bay State Beneficiary Association, brought, 
but not decided, prior to the filing of the bill in the Berkshire 
case. 

It was discovered, in the examination of the Equitable Acci- 
dent Association, that there had been a systematic and dis- 
creditable attempt to deceive the department as to its true 
condition, both in respect to its membership and its liabilities. 
In the sworn statement to this department, as of Dec. 31, 1897, 
the membership was given as 1 , 6 60 . It became evident from the 
examination that one block of 500 names and another of 147 
names were not bona fide members, but had been carried along 
on the books of the association by some of the officers, in an 
attempt to deceive the public. The examination also disclosed 
that the sworn statement above mentioned did not include ten 
claims for disability which had not been settled, although some 
of them had been in the office several months when the state- 
ment was made. The Insurance Commissioner, relying upon 
the provisions of the statute of 1890, chapter 421, section 22, 
which reads as follows, — 

Every corporation doing business under this act shall annually on 
or before the first day of February return to the insurance commis- 
sioner, in such manner and form and including such information as 
he may require, a sworn statement of its affairs for the year ending 
on the preceding thirty-first day of December, — 

asked the district attorney to proceed for perjury against Geo. 
W. Chandler, the secretary, who seemed to be the chief offender. 
Chandler was duly indicted and the case set for trial. The 
court, however, Judge Gaskill on the bench, held that, inas- 



INSURANCE COMMISSIONER. XXV11 

much as the statute did not specifically require the secretary to 
sign the statement made to the department, but that he did it 
without being required by law so to do, the indictment could 
not be maintained. The case was therefore nol grossed. This 
was on May 17. At once the Insurance Commissioner went to 
the General Court with a recommendation that the statute be 
amended. The rules were suspended, and the statute in ques- 
tion was strengthened, and now reads as follows : — 

Every corporation doing business under this act shall annually, on 
or before the first day of February, return to the insurance commis- 
sioner, in such manner and form and including such information as 
he may require, a sworn statement of its affairs for the year ending 
on the preceding thirty-first clay of December. Such statement shall 
be prescribed and sworn to by the president and secretary, or, in their 
absence, by two of its principal officers. For wilfully making a false 
annual or other statement it is required by law to make, the corpo- 
ration and the persons making oath to or subscribing the same shall 
severally be punished by fine of not less than five hundred nor more 
than five thousand dollars. Any person making oath to such false 
statement shall be deemed guilty of the crime of perjury. 

Statements concerning Insolvent Companies in the Hands 

of Receivers. 

Massachusetts Benefit Life Association. 

Arthur Lord and A. S. Wood worth were appointed tempo- 
rary receivers of the Massachusetts Benefit Life Association 
Aug. 18, 1897, and permanent receivers Sept. 3, 1897, by the 
supreme judicial court. In response to a request for a state- 
ment of the condition of the affairs of the receivership, the fol- 
lowing was received : — 

The receivers reported to the court in November last that the ac- 
crued claims upon certificates or policies amounted to $984,724.30, 
which report was accepted by the court, and upon the recommendation 
of the receivers a dividend of 20 per cent, upon those claims was 
ordered Dec. 8, 1898, and has been paid. The amount of said divi- 
dend was $196,944.86 ; that in March last they applied to the court 
for leave to pay a dividend upon the claims before reported, adding 
to the list a few new claims which were pending at the time, and a 



XXV111 REPORT OF THE 

second dividend of 20 percent, was ordered, aggregating $198,878.19, 
which has now been paid. 

Nearly all the litigation affecting the assets or relating to the va- 
lidity of claims has been adjusted. The few matters now remaining, 
some of which are awaiting the decision of the court, having been 
already heard, will probably take the remainder of the summer. 

It is expected, however, that before the end of the year the final 
dividend will be paid, the amount of which cannot be definitely stated 
until the determination of some pending actions and the conversion 
of the remaining assets, which consist mainly of mortgages in process 
of collection by suit or otherwise, and which final dividend will prob- 
ably not exceed 5 per cent. 

The total number of suits and proceedings in court disposed of by 
compromise or decree is about 150. 

There will be a small dividend on claims against the association 
other than claims arising under certificates or policies, the amount of 
the fund applicable to that purpose being about $4,000. 

It should be stated, to prevent any misunderstanding, that the 
court has determined the meaning of the term " accrued claims upon 
certificates or policies " to be claims where the death occurred prior 
to the date of the filing of the bill upon which the receivers were 
appointed, viz., Aug. 17, 1897, or where the disability occurred 
before that time and notice was given to the company, and the 
policy contained no provision, leaving it optional with the company 
to pay the disability claims, which provision existed in a large num- 
ber of policies, and accepting also the policies issued subsequent to 
the act of 1890, under the provisions of which act no authority 
existed for the issuance of policies to cover disabilities occasioned 
by sickness. 

The amount for distribution being insufficient to pay the accrued 
claims in full, no dividend can be paid upon claims arising subse- 
quent to the date of the appointment of the receivers. 

Bay State Beneficiary Association, 

Henry S. Hyde and Henry C. Bliss, Springfield, receivers, 
appointed Nov. 9, 1897, under date of May 17, report as fol- 
lows : — 

The total inventory of the assets of the concern, at date of first 
report of permanent receivers, December, 1897, aggregated in amount 
$150,896.27. Of this sum, $38,000 represented certain securities 
held as collateral to secure loans made by the officers of the asso- 



INSURANCE COMMISSIONER. XXIX 

ciation prior to the appointment of the receivers; S3, 500 held by 
American Surety Company to cover an indemnity bond, in respect to 
a suit pending in court; and $1,000 on deposit with the Commis- 
sioner of Insurance for the State of Missouri. 

The receivers have received in cash, from the sale of securities 
belonging to the emergency fund and from interest on said fund, the 
sum of $96,813.31. 

One hundred and eighty mortuary claims, amounting to $439,553.64, 
were presented within the time limited for the filing of claims, in 
. cases where the death occurred prior to Nov. 6, 1897, the date of the 
filing of the petition for the appointment of receivers. Of these, 168 
claims, amounting to $410,553.64, were allowed by receivers, and a 
dividend thereon of 18 per cent, ordered to be paid by the court. 

Nineteen disability claims, amounting to $27,750, in cases where 
the disability was alleged to have been the result of accident, were 
filed with the receivers, of which two, amounting to $2,750, were 
allowed, and a dividend thereon of 18 per cent, paid, by direction of 
the court. The total amount called for from the emergency fund, to 
pay the first dividend of 18 per cent, on the cases reported in the 
first report, is $74,394.65. 

The receivers are about to present a second report to the court, in 
which certain cases previously held as suspended will be reported as 
allowed or disallowed, and permission asked to pay upon the allowed 
claims the dividend of 18 per cent., and for authority to divide the 
balance of the emergency fund, less 5 per cent, of the total amount 
authorized to be held for expenses of receivership, among the claim- 
ants whose claims have been reported as allowed. 

The receivers have received from assessments, in cash, the sum of 
$15,171.76; from the Mutual Reserve Fund Life Association of 
New York, on account of the transfer of certain assets, the sum 
of $7,229.62; and from miscellaneous sources the sum of $683.45. 
The sum of $1,535.03 of this amount was received from members, 
after the appointment of receivers, as advance payments for a period 
entirely subsequent to the date of the proceedings by the Attorney- 
General (assessment No. 99). This sum the receivers have obtained 
permission of the court to return to said parties. 

A further sum will presently be due from the Mutual Reserve Fund 
Life Association. 

The suits pending against the association have been practically 
disposed of, with but little cost. 

Upon taking up the claims against the association, it was found 
that there had been filed a large number of disability claims in cases 
where the disability arose from usual sickness. As allowance of 



XXX REPORT OF THE 

these claims seemed to be a contravention of the provisions of the 
statute, instruction of the court was sought respecting the question 
in a proceeding wherein it was held that authority existed only for 
the allowance of claims where the disability was the result of accident. 

Immediately after their appointment the receivers commenced a 
careful investigation of the records and the accounts of the former 
officers of the association, with the result that they believed it their 
duty to call the attention of the court to what seemed to them to 
be certain mismanagements and a diversion of funds. 

On the eighth day of August, 1898, three suits were brought, or 
proceedings in equity, for account and discovery, against the groups 
of persons who exercised the authority of officers of the association 
during the three periods in the history of the concern. The first 
period commenced with its organization, June, 1881, and ended Jan- 
uary, 1893, when the management of the corporation was practically 
sold to the parties who, under a provision in the arrangement, came 
to be the managers of the* corporation. The second period com- 
menced from said date and extended to Sept. 12, 1896, when the 
management of the corporation was again transferred to the parties 
who controlled the affairs of the association up to the time of the ap- 
pointment of the receivers. The bills in the several cases, with par- 
ticularity, specify the grounds of the complaints. To these bills the 
defendants file a general and special demurrer, involving, of course, 
the general equities in the case, and broadly raising the question as 
to the character of these organizations, and the rights therein of 
parties who assume to have the management thereof. Practically 
there is involved the question of whether these concerns are mutual 
bodies or speculative bodies, whose affairs might be conducted for 
the profit of those who happened to be officers. 

It will be observed that these associations have no capital stock, 
nor means of determining the individual rights of promoters in the 
assets of the concern, and that the terms of organization and the 
means of promotion are adapted by the Legislature only to mutual 
associations, or persons having equal interests. 

These demurrers have been reported by the single justice to the 
full bench, and will be on for argument at the September sitting in 
Hampden County. 



INSURANCE COMMISSIONER. XXXI 

Massachusetts Masonic Life Association, 
Jonathan Barnes, Springfield, Mass., receiver, appointed 
Nov. 19, 1897, reports, under date of April 22, as follows: — 

The condition of the receivership of the Massachusetts Masonic 
Life Association up to March 10 of this year appears sufficiently, I 
think, in my first report, filed by me February last in the supreme 
judicial court. The total assets received up to the time of the filing 
were $33,965.89, and the balance remaining on hand, after deducting 
expenses of $1,347.98, amounted to $32,617.91. This report was 
approved and allowed by decree entered March 10. No further 
assets have been received except interest accruing on the money 
deposited. On March 10 the court ordered a dividend of 15 per 
cent, to be paid from the so-called emergency fund, and a dividend 
of 10 per cent, from other funds, making 25 per cent, in all, among 
creditors holding death claims amounting to $98,400 ; and these 
dividends have since that date been paid (with the exception of five 
checks not yet sent out, awaiting the receipt of certain papers, such 
as certificates showing that appointments of administrators are still 
in force), the sum so paid being $24,600. There remains in my 
hands after payment of such dividends about $8,500. I expect that 
the balance of this sum remaining after payment of expenses will 
be distributed shortly after July 1, and that such balance will be 
sufficient to pay perhaps 5 per cent, more on the death claims. 

There is one matter which may need to be dealt with by me as 
receiver, namely, the distribution of a certain fund belonging to 
what was designated as " Class A of benefit associates." The busi- 
ness of this class was taken over by the above-named association 
when it was organized, and it is a somewhat anomalous business for 
a concern organized under chapter 421 of the Acts of 1890. The 
business and funds of this class in all particulars were kept entirely 
separate from the other business and funds of the association, and it 
was at first thought that this matter did not come within my jurisdic- 
tion as receiver ; but I am now inclined to think that I shall have to 
assume the duty of winding it up. I cannot say definitely how long 
this will take. The court would probably issue an order with especial 
reference to claims of this class, limiting the time for their presenta- 
tion ; but the number of such claims is very small, and I understand 
that the funds of that class are sufficient to pay them in full. 



XXX11 REPORT OF THE 

New England Live Stock Insurance Company. 

Charles Walcott, receiver, appointed Dec. 17, 1897, reported, 
under date of April 2 1 , as follows : — 

On April 1, 1899, the funds in my hands as receiver amounted to 
$471.94. The debts of the company have never been accurately as- 
certained. They are made up principally of claims for payment of 
losses under the company's policies of insurance. There are also 
claims to a large amount by veterinaries and agents of the company 
for services performed. The best estimate of the debts I am able 
to form is that they are between 810,000 and 815,000. 

The assets of the company consist of an extra assessment levied 
upon the policyholders Aug. 7, 1896, under a provision in the policy 
of the company permitting extra assessments in case of excessive 
mortality ; and of a great number of regular quarterly assessments, 
which appear by the books of the company to be due from various 
persons who have at some time been policy holders of the company. 
Of the extra assessment there remains unpaid about $2,000; of the 
regular assessments, several thousand dollars. 

Since Jan. 28, 1898, the date of the receiver's last report, there 
has been collected by the receiver $335.05. This sum was paid by 
the debtors of the company in response to two sets of notices issued 
by the receiver. By far the greater portion of the sum was in pay- 
ment of the extra assessment. The expenses since Jan. 28, 1898, 
have amounted to 8497.64, — the greater portion of the expenses 
having been incurred in preparing lists of the persons owing assess- 
ments, and in printing and mailing notices demanding payment of 
assessments. 

Practically nothing more can be collected either from the extra 
assessment or from the regular assessments. All those who are 
financially responsible and who owed the extra assessment have now 
paid it. Those who remain have some defence to the assessment and 
were therefore left alone by the company, or are insolvent. The 
regular assessments are payments which the policy holders of the 
company by the agreements contained in their policies bound them- 
selves to make quarterly upon demand during the terms of their re- 
spective policies. They were due at the beginning of each quarter, 
and were regarded by the agents of the company, as well as by the 
policy holders, as payment for insurance during the ensuing quarter. 
The policies provided that, in case the assured failed to pay a quar- 
terly assessment on demand, his policy should lapse. It was sup- 



INSURANCE COMMISSIONER. XXX111 

posed by the policy holders that when they wished their connection 
with the company to cease they had only to allow a quarterly assess- 
ment to go by, and their connection with the company would be sev- 
ered at once without any liability for the assessment. This belief 
was encouraged by the company, which never made any attempt to 
collect assessments under such circumstances, although it allowed the 
charge to stand against the policy holder's name upon its books. 
Most of these claims for regular assessments are as much as four 
years old. None of the persous liable for the assessments, whether 
regular or extra, will pay until after judgment has been obtained 
against them. Very few of the assessments are large enough to 
justify suit, even if the debtors resided in this immediate vicinity. 
The policy holders are scattered all over this State. Many of them 
are in Maine and some in New Hampshire. The validity of the extra 
assessment is very doubtful, and the liability of the policy holders for 
the regular assessments questionable, even in the instances where the 
facts support the entries in the books of the company, which often is 
not the case. 

It is extremely doubtful whether chapter 421 of the Acts of 1890, 
which defines the powers of receivers of assessment companies, gives 
the receiver authority to levy an extra assessment to pay the debts of 
the company ; but, even if that statute could be construed as grant- 
ing him such authority, there is no machinery by which such an 
assessment could be ratified and confirmed by decree of court, and 
the amounts due from the individual policy holders under such an 
assessment would be so small as to be practically uncollectible, the 
validity of the assessment not having been conclusively established. 

There will therefore be no dividend among the creditors of the 
company, and the receiver is about to petition the court to declare 
the affairs of the company closed. 

Security Live Stock Insurance Company. 
Alpheus Sanford, receiver, appointed Sept. 3, 1896. Under 
date of Jan. 12, 1899, a decree was issued by the supreme 
court, of the following tenor : — 

This case came on to be heard upon the petition of the receiver, 
representing that the assets amounted to $252.88 ; the liabilities about 
88,500 ; that, in the opinion of the receiver, there is no authority for 
him to levy an assessment, and praying that he be ordered to close 
up the affairs of the company, and that the assets now in his hands 
be ordered paid to him as compensation for services rendered. Upon 
said petition order of notice issued, and no person appeared. 



XXXIV REPORT OF THE 

It is now ordered, adjudged and decreed that the affairs of the 
company be declared closed, and the assets in the receiver's hands be 
ordered paid to him as compensation for his services rendered. 

Mercantile Mutual Accident Association. — Charles E. Shat- 
tuck, receiver, 53 State Street, Boston, appointed Feb. 7, 1898. 
Receiver reports that he has wholly wound up and disposed of 
the affairs of the association, that his final account as receiver 
has been allowed by the supreme court, and that he has been 
discharged from any further duty in the premises. 

Berkshire Health and Accident Association. — Alpheus San- 
ford, receiver, appointed July 16, 1898. Receiver reports that 
he has approved claims amounting to about $2,000, and that 
the assets in his hands consist of cash $171.81 , 15 shares Howard 
National Bank stock, 9 shares First National Bank of Chelsea, 
and 10 shares Middlesex County National Bank. Two suits 
against the company remain now to be settled, and one claim 
upon which suit may be brought, the amount of these doubtful 
claims beinsr about $750. 



"o 



The World Accident Association. — Thomas N. Perkins, re- 
ceiver, 53 State Street, Boston, appointed Jan. 17, 1898. The 
affairs of this receivership have been wound up and the receiver 
discharged. 

Suffolk Mutual Accident Association. — George S. Merrill, 
receiver, 64 Federal Street, Boston, appointed Feb. 17, 1897. 
The receiver found the corporation possessed of no assets ex- 
cept the claim against the officers of the same for diverting 
funds, and this is now being prosecuted in the courts. 

Equitable Accident Insurance Association. — Wade Keyes, 
Boston, receiver, appointed Aug. 12, 1898. The receiver re- 
ports assets in hand amounting to $6,732.03. His petition for 
instructions relative to allowance of claims is now pending in 
the supreme judicial court, returnable in June. 

Greylock Beneficiary. — Arthur A. Folsom, receiver, 613 
Tremont building, Boston, appointed Dec. 7, 1898. The re- 



INSURANCE COMMISSIONER. XXXV 

ceiver reports that he has collected all known assets of the 
corporation, amounting to only $160, more or less, and is 
awaiting the filing and proof and allowance of claims against 
the corporation, under order of the court. There are no suits 
or judgments against the corporation, and there has been no 
disposition of the funds in the receiver's hands, aside from a 
few items of cash expenses. 

Massachusetts National Life Association. — George Kress, 
Westfield, receiver, appointed March 7, 1898. No report re- 
ceived by the department. 

The Annual Friend. — John C. Burke, Lowell, receiver, 
appointed May, 1893. The affairs of this corporation are prac- 
tically closed. There was a good deal of litigation connected 
with the winding up of the corporation ; among other matters, 
a suit against its old officers, which, after a long and expensive 
controversy, resulted in a judgment of over $48,000 against 
them. Less than $3,000 was collected in this judgment, which 
was absorbed in expenses connected with the litigation, leaving 
but a small fee for counsel and nothing for the receiver. 

Golden Lion. — Lasell E. Partridge, 10 Tremont Street, 
Boston, receiver, who reports that the receivership is practi- 
cally ended. On May 5, 1898, a final dividend of 25 per cent, 
was sent to all members adjudged by the court to be entitled to 
share in the distribution. This dividend, with expense and 
allowance for receiver, exhausted the entire assets of the order. 

Red Cross. — Samuel K. Hamilton, receiver, 31 Milk Street, 
Boston, appointed January, 1893. Settlement delayed, pend- 
ing adjustment of legal questions. No dividend probable. 

Order of the Golden Grail. — Joseph I. Bennett, receiver, 
61 Court Street, Boston, appointed Sept. 18, 1891. Keceiver 
reports that the assets of the order have all been distributed, 
his accounts audited, and nothing more is necessary except the 
formal report to that effect. 



XXXVI REPORT OF THE INSURANCE COMMISSIONER. 

Mutual One Year Benefit Order. — Sherman L. Whipple, 
receiver, 5 Tremont Street, Boston, appointed Feb. 24, 1892. 
Receiver reports that the affairs of this receivership are ready 
to be closed up. A second dividend has been paid, in accord- 
ance with the order of the court. About 8700 unclaimed divi- 
dends remain in the receiver's hands, and he will ask an order 
of the court to turn this over to the Treasurer of the Common- 
wealth, to be held by him for the claimants. 

Respectfully, 

FRED'K L. CUTTING, 

Insurance Commissioner. 



STATISTICAL TABLES. 



XXXV111 



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OS 


© 


CO 


CO 


■* 


© 


CO 


CO 


© 


t^ 


© 


■V 


© 


© 


CO 


© 


t^ 


-* 


© 


r>. 


CO 


t-~ 


© 


r^ 


CO 


CO 


© 


CO 


CO 


t^ 


© 


© 


© 


CM 






l-H 












l-H 


■-H 






l-H 




CO 






o 


© 


o 


OS 


© 


CM 


© 


© 


t— 


CO 


T* 


Ttl 


00 


© 


CD 


b» 


© 


CO 


rN 


t© 


l—l 


l-H 


© 


CD 


r-« 


co 


© 


CO 


co 


oo 


00 


f 


© 




00 


CO 


CO 


CD 


o 


© 


o 


© 


CO 


CO 


© 


© 


CO 


CO 


CO 


© 


r^ 


© 


© 


b» 






































CO 


■* 


© 


CO 


© 


© 


»o 


CO 


CO 


CO 


t- 


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CO 


CO 


o 


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o 


on 


© 


CO 


co 


CO 




r- 


© 


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co 


ta 


© 


00 


CO 


oo 


© 


C-J 


r— 


CO 


© 


OS 


t— 


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oo 


t>- 


l-H 


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CO 


o 


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ta 


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ia 


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l-H 


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CO 


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CM 


CM 


l-H 


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CO 


CM 


l-H 


CO 




CO 


CO 




l-H 




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CO 


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Tt* 


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l-H 


l-H 


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CO 


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CO 


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to 


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oo 


l-H 


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CO 


CO 




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■* 


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CO 


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CO 


CO 


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CO 


l-H 


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oo 


Tf 


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T 1 


CO 


CO 


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CO 


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f-H 


CO 


■*»« 


CO 


© 


CO 


t^ 


© 


t~- 


CO 


tO 


oo 


© 




1—1 






































CO 


© 


t^l 


© 


ta 


ta 


to 


p— 


t^ 


CO 


00 


© 


© 


t^ 


t^ 


to 


© 


to 


rj< 


C0 


© 


r—> 


l-H 

CM 


l-H 

p— 1 


CO 


f-H 


CO 




so 


CO 


CO 






l-H 


co^ 

l-H 


CO 

■^ 

r— 1 






CC 



pq 
a 



a 

o 

'A 



^3 
U 

o 
IS 



-l-> 






-d 


00 


3 






a 


to 


s 


. 


"3 


OS 


3 


a 

Sh 
<D 


"5 


3 
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3 


+J> 


> 

CO 


o> 


3 




a 


a 


16 


a 


X 


•a 


T) 


pi-1 




a 






■t-i 
U 



3 


8 


o 


o 




CO 




c 


tl 


'A 


Ph 


Ph 


Pk 


Ph 



3 .3 <U 



2 oo 

O p^ 
co 
p> 

3 oi 

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Pk H 



a> 

■»— 

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CO 

i- 
m 
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o 
o 



g w ^ uu 



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3 
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3 

P 



3 

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P 



-3 

a 
c 

p 



bo 

3 



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H 



oS 

o 

3 
at 

S-i 



xlii 



STATISTICAL TABLES. 



T3 
<o 

3 

a 
o 
O 



pa 





hJ 




OS 


CO 


OS 


OS 


t^ 


T}< 




<o 


CN 


^H 


CO 


tC 


© 


to 




q 




to 


CN 


CN 


t^ 


^H 


^H 




CO 


CO 


lO 


OS 


© 


© 


© 


■g 


3 
































H 
(0 


































03 

M 


Cm 




































00 


i— < 


h- 


CD 


00 


o 




o 


00 


00 


© 


ft 


-<*« 


^ 


M 






CN 


o 


OS 


o 


00 


CN 




CN 


CO 


CO 


t^. 


© 




l-H 


X 


*J 




t© 


TH 


CO 


«o 


oo 


t>» 




00 


CO 


CO 


OS 


CO 


00 


eo 


H 


c 
































o 


a 




oo 


OS 


t© 




CN 


»>- 




o 


CM 


o 


•— 1 


to 


Tt< 


to 


o 




CO 


1© 


00 


CN 


l^ 


r— 




co 


•o 


r>- 


t~- 


co 




— 


►J 


•< 




l-H 


I— 1 


CN 


CN 


>-H 


OS 




00 




os 


Tj^ 


CN 


l-H 


l-H 


3 

< 




m 










€& 




•» 






CN 








a 

K 


e 




•** 


OS 


t© 


00 


CO 


o 




00 


OS 


CO 


(O 


© 


© 


tO 


e 




to 


eo 


00 


OS 


CN 


00 




O 


OS 


co 


OS 


t^ 


CO 


© 


O 
































< 




to 


CO 


•^ 


CO 


l-H 


CO 




CO 


»r: 


CN 


t>- 


l-H 


l-H 


CN 


H 


9 


















l-H 














o 


Pu 
































E w 


































































b Z 






I© 


o 


00 


TT< 


OS 


CO 




OS 


CN 


■a 


to 


t>- 


tO 


CN 


o «< 






t^. 


os 


CO 


•* 


oo 


CO 




CO 


OS 


-1> 


CN 


•* 


r>. 


h- 


»*a 


-4- 




CO 


Tfl 


to 


^»« 


CO 


r— 




>a 


o 


t— 


t^ 


© 


© 


CO 


55 


c 


































13 




I— 1 


eo 


OS 


00 


o 


CO 




o 


»C5 


00 


l-H 


00 


© 


eo 


a 

aq 

3J 


© 




00 


CN 


CO 


1— 1 


00 


t^ 






OS 


>3 


CM 


CN 


"<H 


•r: 


s 




TH 


T« 


©_ 

l-H 


1— 1 


l-H 


CN 

CO 






l-H 


co^ 

l-H 


•a 
©" 


If 


l-H 


•**< 


a 
















s& 




€©■ 






CN 








■ 


p 




OS 


O 


co 


© 


lO 


CO 




CO 


HlH 


CN 


© 


00 


© 


eo 


o • 


• 




o 


i-h 


to 


00 


CO 


f— H 




t^ 


CO 


ta 


t^ 


t— 


© 


© 


O W) 


o 
































Z 3 


9 
Oh 




<N 


CN 


CN 


«— 1 


CN 


CN 






CN 




l-H 


l-H 


l-H 


l-H 


&2 

z * 




































T* 


O 


o 


1— 1 


00 


CO 




•<** 


CO 


t^ 


to 


to 


t^ 


l-H 








oo 


00 


1^. 


h- 


CO 


•HI 




CN 


OS 


<c 


CO 


r>- 


tO 


© 


S O 


h-* 




00 


t© 


OS 


CN 


Tf 


1—1 




CO 


00 


■* 


^ 


00 




CO 


p 
































5 f- 1 


9 






CM 


CO 


t>. 


CO 


lO 




^— 


o 


CO 


l-H 


© 


00 


© 


O 




CO 


CO 


»o 


o 


rt< 


o 




00 


00 


CO 


© 


■*»" 


t>- 






9 
< 




l-H 


CN 


>o 


kO 


CO 


°*i 




CO 




CO 


CO^ 


■* 


^H 


CN 




۩< 










"» 




■» 






•* 














r^- 


,_ 


•* 


lO 




^ 




00 


•V 


l-H 






l-H 


tO 




o 




l-Hl 


00 


CN 


o 




T« 




o 


^ 


Tfl 






© 


© 


05 


O 




1— 1 




CO 


1— 1 


1 


f-H 




^ 


l-H 


l-H 


1 


1 


Tj" 


CN 


■4 


S 
































c 


Oh 
































1-3 


































p 






1— 1 


1— 1 


r-«. 


CO 




ta 




CN 


CO 


CN 






to 


00 






CO 


CO 


CO 


co 




OS 




o 


IQ 


CN 






© 


H9< 


+S 




©_ 


•H« 


OS 


o 




■^ 




CN 


t>- 


CO 






eo 


Tf 




p 
























1 


1 






S3 


s 




of 




CN 


CO 




CN 




CO 


co 


** 






co 


eo 


W 


o 




o 


o 


I— 1 


OS 




— 




■«< 


^ 


o 






00 


»o 


OS 






I— < 


I— 1 


t>- 


CN 




CN 




»o 




OS 






1" 


•^ 


Ph 




m 










_r 




fl» 






























a» 




















c 




pH 


■* 


Tt« 


Tf< 


OS 


tJ< 




OS 


^ 




■** 


r» 


© 


eo 


03 


e 




CO 


I© 


TT 


OS 


■^ 


CO 




OS 


t>- 




■* 


© 


00 


■* 


Z 

o 


0) 




CN 


t£ 


OS 


00* 


" 


^ 




CO 


■«;)" 


1 


"^ 


•^ 


^" 


CO 

l-H 


< 


0. 




































30 


o 


•—1 


ta 


l-H 


•a 




CO 


^< 


o 


eo 


Tt« 


CN 


© 


H 






O 


1— 1 


00 


1— « 


OS 


o 




r^ 


OS 


© 


CN 


CO 


© 


CN 




■w 




CN 


t^ 


© 


CO 


Tt> 






l-H 


^H 


CO 


i^: 


© 


oo 


l-H 


H 

< 

J 

9 


p 
































3 






t^ 


©"" 


CN 


^f 


o 




■*»• 


CO 


CN 


00 


© 


CN 




o 




O 


CO 


t-- 




>o 


l-H 




o 


»a 




CO 


«o 


l-H 


© 


a 




CM 


tO 


o 


»o 


OS 


CO 




o 


l-H 




■<H 


(N^ 


tO 


©^ 




€fr 




























c 


•< 






CN 


CN 




CO 




CN 






l-H 


l-H 




^H 


o 














۩= 




a» 






l-H 


























oc 




















00 














H 




















« 














H 


















* 


< 














CO 


















5Z5 


Ph 
































3 


S 














tf 


















Oh 


o 














« 


















a 


o 














= 


















o 
















H 








* 










En 


OQ 

H 

S 

X 

= 


* 




'a 


"3 


• 




o 


















o 

w 
s 


• 


• 


s 

H-> 

B 


3 

HH> 


• 


• 


o 

OQ 

Ph 

IH 


• 


"el 

s- 
- 
B 
as 


"5 

= 

—J 

s 


• 


• 


• 


• 




to 


00 
OS 


• 


J* 

o 
o 


OQ 

H-» 

H-» 

o 


s 
a 

to 

c 


"5 


• 


Ph 


• 


o 

H-> 




• 


• 


• 


• 






3 

s 


«- 
la 

0Q 

n 


a 

w 

G 
o 


03 

S3 

CJ 

e3 
as 

00 


a 

S3 
as 

H-> 

ci 


oo" 

o 
H 


s 
o 

u 


c 


S3 

t w 

'-3 
u 
as 

p: 
o 


C5 
# o 

V 
OS 

c 
1= 
o 

o 


2 

'5 
cr 


as" 
*c 

= 

|H 

as 

a 


as" 

s 

o 

— 
l-t 


c 

e3 

H-> 
Cj 

2 



STATISTICAL TABLES. 



xliii 



lO tO CN f-i 
—> — O CM 



to 

o 



C7S 


O 


CM 


!N 


to 


Cs 


■<*« 


<«*« 


CO 


CO 


-* 


CN 


to 


CN 


•— " 


-# 


OS 

OS 

o 


OS 


Tf 


h— 


CS 


CS 


CO 


CS 


o 


1—1 


CO 


CO 


■^ 


b- 


cs 




CO 


OS 


CO 


CO 


CO 


OS 


O 


•<f 


GO 


CO 


OS 


oo 


CO 


CN 


1—1 


o 


CO 


T* 


"•T 


































OS 




t^. 


OS 


h- 


05 


o 




to 


»o 




CO 


CO 


OS 


«# 


CN 


CS 


o 








iO 


CS 


■*»< 


CO 


o 


CO 


CO 


CO 


o 


F-H 


WO 


O 


CS 


to 


Tj< 




rt< 


i—i 


f— 


<M 


■* 


l"» 


^ 


l-H 


CO 




CO 


CN 


«o 


i—( 




!-* 






CO 


i—i 




l-H 


""• 






















l-H 


K0 

l-H 



CO 

CO 

© 



i-* l-H CN i— • 



-* 


t— 


CO 


OS 


to 


to 


CO 


t>- 


o 


OS 


r^ 


ta 


CO 


CN 


CO 


IQ 


CO 

o 


OS 


rr, 


r^. 


OS 


t^ 


CO 


cs 




t>- 


CO 


o 


o 


o 


to 


CN 


t>- 


CO 




CO 


CO 


CD 


CN 


r~ 


CO 


CO 


o 


I—I 


■"*! 


F— 1 


TJH 


o 


i—l 


o 


lO 










































^ 


_-< 


^~ 


lO 


-* 


CO 


»o 


CO 


CN 


"* 


• — ' 


CO 


F— 


b- 


F-H 


to 


to 




or 


CN 


t-~ 


CO 


CO 


o 




1— 1 


CN 


CO 




CO 


m 


co 


to 


CO 


Tf 




r~- 


CO 


CO 


■* 


•f 


co 


ta 


o 


i— i 


CN 


CO 


© 


CO 




I—I 


I—I 




CO 


i-h 






oo 


ta 










1— 1 


F-H 










to 

83= 


to 



50 

i— i 

CO* 



co 



i-H CN CN i-h 



CN 


Id 


1—1 


CN 


CN 


-*l 


CO 


o 


OS 


CO 


rt< 


>a 


■^ 


CN 


IQ 


to 


OS 


CN 


Tf 




Tji 


CO 


CO 


CM 


CO 




CN 


o 


to 


«o 


CO 


CN 


CO 


l^. 






1^ 


to 


Tt< 


CO 


1—1 


o 


CN 


© 


■«»< 


TJ< 


OS 


Tt< 


I—I 


OS 


o 


r>- 










































t~*. 


CO 


OS 


.— 1 


oo 


■* 


CO 


t^. 


CO 


CN 


CN 


ta 


ta 


Tf 


CO 


— 


•-H 


to 


o 


t-» 


to 




l>. 


F-H 


to 


cs 




CO 




CO 


OS 


OS 


t^ 


to 






to 


co~ 


t>- 


■^ 


CO 
co" 


© 

CO 


i>- 




t^ 


o 


t^. 


»o 


CN 


l-H 


l-H 


CN 


CN 
CN 


CN 
» 



OS 

ta 



© 

CN 

CO 



-* 


CO 


CO 


CO 


CO 


r>- 


t— 1 


Tf 


r-H 


K3 


Cs 


CN 


to 


•o 


CN 












to 


CO 


CO 


tr— 


-* 


cs 


co 


l-H 


CO 


o 


OS 


CO 




l-H 





IN. 

to 



ia 

OS 



CN 



i— i 
O 



en 

CO 

co 



l-H 



CI 

I— ' 
CO 



to OS 

tO F-H 

o to 

co* i-T 

cs to 

CO CO 



to 

"* 

of 
o 



co 
o 

o 



cs 

l-H 

© 
ta 



to 
»q 



CN 



tO l-H 

o o 

Tf< OS 



ta cn 

l-H f-H 

o co^ 

CN i-T 

OS o 

CN 



oo 



CS 

o 

CO 

co" 

3G 

to 



CO 

co 
to 



CM 
IQ 



Tfl 

CO 



o 
o 



as 

a 



ta 
to 

c 

CO 

m 

3 

— 



a 

o 



o 



3 F-H* 

^ t3 

co 3 

•2 § 

£ Ph 



<3 

3 
■<^> 

3 

"3 
8 

f3 

Ch 



3 

H 

3 
c3 

.CO 



3 

CO 

O 



QQ 

fH 



to 

a 

T* 

CO 

« I 

2 1 

f> TO 

O 3 



=h &h Ph H 



S3 

F1 

H-> 


03 

3 


0Q 
CO 


3 


O 


o 


3 

a 


3 


5 

CO 


O 

to 


CO 


T3 

3 

A3 


3 
O 


3 
O 


^0 

CO 


"fS 


O 

H 


S-l 








03 






3 


3 


3 






P 


P 


P 







xliv 



STATISTICAL TABLES. 



Q 



OS 

H 

W 

w 

CO 

P 

CO 

09 

l-H 

Q 



PQ 

H 



■ 


>o 










.- 


o 


O 




o 


o 


o 


o 


5 ■§ 


00 










X) 


o 


o 




o 


o 


5 


o 


t^ 










t^ 


o_ 


o 




c 


o 


5 


o 


*0 ^5 




1 


i 


1 


1 


















C O 


i-h 










l-H 


•o" 


CM 




t>- 


— 


•a 


o 


.2 •*= 


€©■ 










•» 


t— 


l-H 






Ol 


l-H 


CM 


2 •* 














l-H 














s § 














•» 














OS 




























o 
























































■ 


co 


OS 


«5 




CJ 


O 


l-H 




CO 


CO 


CO 


00 


!>. 




00 


CO 


OS 


-*»< 


C5 


co 


CO 


l>- 


CO 


CM 


r» 


-1" 


CO 


»o 


l-H 


CO 


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xlvi 



STATISTICAL TABLES. 



2 i 



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3 



STATISTICAL TABLES. 



xlvii 



































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MASSACHUSETTS 

LIFE INSURANCE COMPANIES. 



Detailed Statement of Assets and Liabilities, with Abstract 

of Annual Statements, for the Year ending 

December 31, 1898. 



DETAILED STATEMENTS OF ASSETS AND LIABILITIES. 



BERKSHIRE LIFE INSURANCE COMPANY, PITTSFIELD. 

[Incorporated May, 1851. Commenced business Sept. 4, 1851.] 

Paid-up Capital, $25,500. 

William R. Plunkett, President. James W. Hull, Secretary. 



Income. 
Received for premiums on new policies, 

Received for renewal premiums, 

Dividends applied to purchase paid-up additions and annuities 



Total, 

Deduct amount paid for reinsurance, 



Total premium income, 

Received for interest, .... 
for rents of company's property, 
for reinsurance, .... 

Premium notes or loans restored, . 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 

Total, 



Disbursements. 

Paid for losses and additions, 

Paid for matured endowments and additions, . 

Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Net amount paid for losses and endowments, . 
Premium notes or loans voided by lapse, 
Cash dividends applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, .... 



Total paid policy holders, .... 
Cash paid for dividends to stockholders, . 

for commissions and bonuses to agents (new poli- 
cies, $106,784.12 ; renewals, $98,849.74), . 
for salaries and allowances to managers and agents 
for medical examiner's fees, .... 
for salaries of officers and home office employees, 



$186,507 90 

1,386,266 54 

243,836 17 

$1,816,610 61 
18,353 81 

$1,798,256 80 

342,352 84 

25,086 13 

5,059 85 

440 84 

$2,171,196 46 
7,810,864 07 

$9,982,060 53 



$583,277 00 
104,346 00 

$687,623 00 
11,800 00 

$675,823 00 
4,570 23 

243,836 17 
342,356 23 

$1,266,585 63 
1,785 00 

205,633 86 
33,694 94 
14,331 50 
45,136 14 



4 BERKSHIRE LIFE INSURANCE CO. 

Cash paid for taxes on new premiums, $1,547.01 ; on renew- 
als, $11,043.67, $12,591 28 

for taxes on reserves, $ 9,288.61 ; internal revenue, 

$2,581.93, 11,870 54 

for taxes on real estate, 6,934 55 

for fees, licenses, etc., 2,830 26 

for rent, 15,542 62 

for advertising, printing and postage, . . . 20,447 94 

for legal expenses, 451 86 

for furniture and office fixtures 2,247 98 

for real estate expenses (except taxes), . . 8,139 78 

for incidentals, 13,039 87 

Total.disbursements, $1,661,263 75 

Balance, $8,320,796 78 

Invested in the following : — 

Assets as per Ledger Accounts. 

Cost of real estate, $690,089 50 

Loans on mortgage of real estate (first liens), . . . 5,121,084 41 

Loans on collateral security (schedule A), .... 201,208 28 

Premium notes or loans on policies in force, .... 102,060 67 

Cost value of stocks and bonds owned (schedule B), . . 1,695,122 04 

Cash in company's office, 88 57 

Cash deposited in bank, 481,786 05 

Bills receivable, 1,250 00 

Agents 1 debit balances, 16,169 24 

Agents' personal loans, 16,396 54 

Total, $8,325,255 30 

Deduct credit balances, 4,458 52 

Total net or ledger assets, as per balance, . . . $8,320,796 78 

Other Assets. 
Interest due, $74,588.74 ; accrued, $68,397.75, .... 142,986 49 
Market value of stocks and bonds over cost, .... 91,446 96 

New Business. Renewals. 

Uncollected premiums on poli- 
cies in force, .... $19,491 66 $43,635 19 

Deferred premiums on policies 
in force, 29,042 49 135,185 61 

Total $48,534 15 $178,820 80 

Deduct loading (20 per cent.), . 9,706 83 35,764 16 

Net amount of uncollected and 

deferred premiums, . . $38,827 32 $143,056 64 

181,883 96 

Total assets, per company's books, $8,737,114 19 



BERKSHIRE LIFE INSURANCE CO. 



Items not admitted. 

Agents' debit balances, $16,169 24 

Loans on personal security, .... 16,396 54 

Bills receivable, . .... 1,250 00 

Total, $33,815 78 

Total admitted assets, $8,703,298 41 

Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), .... $7,949,547 00 
Deduct net value of reinsured risks, 111,009 00 

Net reserve, $7,838,538 00 

Matured endowments due and unpaid, . - . $66 73 

Death losses in process of adjustment, . . 33,980 00 

Claims resisted by the company, . . . 10,000 00 

Total policy claims, 44,046 73 

Unpaid dividends of surplus due policy holders, . . . 611 96 

Premiums paid in advance, 11,820 96 

Liabilities as to policy holders, $7,895,017 65 

Surplus as regards policy holders, . . . $808,280 76 

Paid-up capital, 25,500 00 

Surplus over capital, 782,780 76 

Gross liabilities, $ 8,703,298 41 

Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $103,781 93 

rec'd during 1898 (old policies), 15,977 99 

restored by revival of policies, 440 84 

Total, $120,200 76 

Used in payment of losses and claims, . . $4,325 34 

Used in purchase of surrendered policies, . 2,377 14 

Voided by lapse, 4,570 23 

Redeemed by maker in cash, .... 6,867 38 

Total, 18,140 09 

Balance note assets Dec. 31, 1898, $102,060 67 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 14,692 $37,486,949 00 

Endowment, . . . 2,784 6,708,960 00 

All other, .... 62 118,500 00 

Reversionary additions, . - 1,224,112 00 

17,538 $45,538,521 00 



BERKSHIRE LIFE INSURANCE CO. 



Whole life, 
Endowment, 



Policies issued during the Year. 

Number. Amount. Total No. Total Amount. 

. 2,424 $5,658,800 00 
351 662,000 00 
• 2,775 $6,320,800 00 



Old Policies revived and increased. 



Whole life, 

Endowment, 

All other, .... 

Additions by dividends, . 

Total, .... 



120 


$135,573 00 






13 


11,174 00 






6 


16,000 00 










139 


162,747 00 






• 


. 


- 


513,572 00 



. 20,452 $52,535,640 00 



Whole life, 
Endowment, 
All other, . 



By death, . 
maturity, 
expiry, . 
surrender, 
lapse, . 

Not taken, . 



Policies terminated during the Year. 
. 1,723 $4,121,065 00 



323 


690,065 00 


8 


418,653 00 


2,054 


$5,229,783 00 


How terminated. 


175 


$598,586 00 


49 


104,346 00 


6 


13,000 00 


467 


1,544,751 00 


796 


1,873,100 00 


561 


1,096,000 00 



2,054 5,229,783 00 



Policies in Force Dec. 31, 1898. 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



15,513 $39,160,257 00 

2,825 6,692,069 00 

60 119,500 00 

1,334,031 00 



18,398 47,305,857 00 



Schedule A. 

Securities held as Collateral. 

Market Value. Loaned Thereon. 

10 shares Pittsfield Coal Gas Co., . . . $1,750 00 $700 00 

12 " Pittsfield National Bank, . . 1,740 00 1,134 11 

27 " Boston & Albany R.R. Co., . . 6,615 00 2,700 00 

12 " Massasoit Paper Co., Holyoke, . 15,250 00 12,200 00 



BERKSHIRE LIFE INSURANCE CO. 



27 shares Boston & Albany R.R. Co., 
75 " Third National Bank of Pittsfield, 
16 " Stockbridge & Pittsfield R.R. Co., 
50 " Third National Sank of Pittsfield, 
10 " Springfield Gas Light Co., 
32 " Pittsfield Coal Gas Co., . 
5 " Merchants 1 National Bank, Boston 

3 " Western Nat'l Bank, New York, 

12 " Pittsfield National Bank, 

13 " N'l Mahaiwe B'k, Gt. Barrington, 
12 " Stockbridge & Pittsfield R.R. Co., 
50 " Boston & Albany R.R. Co., . 

4 " Boston & Albany R.R. Co., . 
400 " Jackson, Lansing & Sag. R.R. Co. 

10 " Agricultural Nat. Bank, Pittsfield 

383 " Smith Paper Co. of Lee, 

Town of Ancram, N. Y., bond, . 

Rio Grande Western R.R. bonds, 

Wisconsin Central R.R. bonds, 

Milwaukee & Lake Winnebago R.R. bonds, 

Territory of Arizona bonds, 
75 shares American Telegraph Cable Co., 
23 " Pittsfield Electric Street R'y Co., 

100 " Pittsfield Electric Co., . 
22 " Pullman's Palace Car Co., 
10 " Mercantile Trust Co., New York, 
35 " Adams Express Co., 
9 " Boston & Albany R.R. Co., . 
7 " Pontoosuc Woolen Mfg. Co., Pitts 

4 " Pontoosuc Woolen Mfg. Co., Pitts 

2 " Pontoosuc Woolen Mfg. Co., Pitts 

5 " Agricultural N'l Bank of Pittsfield 
10 " Third Nat'l Bank of Pittsfield, 

3 " Pittsfield Coal Gas Co., . 

6 " Boston & Albany R.R. Co., . 
15 " Standard Oil Trust, 

3 " Pittsfield Electric Street R'y Co., 
50 " Pittsfield National Bank, 
50 " Pittsfield Electric Co., . 
Mortgages assigned, .... 

2 shares Third National Bank of Pittsfield, 
5 " Berkshire L. & T. Co., Pittsfield, 
12 " Berkshire L. & T. Co., Pittsfield, 
21 " Berkshire L. & T. Co., Pittsfield, 
35 " Boston & Albany R.R. Co., 
City of Pittsfield note, .... 
420 shares Utica Water Works Co., . 



} 



Market Value. 

$6,615 00 

15,000 00 
2,40000 

10,000 OO'i 
1,300 00 I 
5,600 00 [ 
795 00 
495 00 J 
1,740 00 
1,690 00 
1,800 00 

12,250 00 
980 00 

32,000 00 
2,500 00 

38,300 00 
1,070 00 
4,600 00^ 
2,560 00 
6,300 00 
5,500 00 
7,275 00 
2,875 00 

12,500 00 J 
3,410 00 
4,500 00 
3,780 00 
2,205 00 

10,500 00 
6,000 00 
3,000 00 
1,250 00^ 
2,000 00 I 
525 00 £ 
1,470 00 J 
6,450 00 J 

375 00 
7,250 00 
6,250 00 

11,050 00 
400 00 
625 00 
1,500 00 
2,625 00 
8,575 00 
5,000 00 

15,750 00 



Loaned Thereon. 
$16,000 00 

7,800 00 



} 



1,200 00 


3,000 00 


7,500 00 


625 00 


26,000 00 


650 00 


18,000 00 


1,000 00 



)> 88,699 17 



2,000 00 
4,000 00 

3,200 00 

6,500 00 
4,000 00 
2,000 00 



10,000 00 



300 00 

17,000 00 

300 00 
500 00 
1,200 00 
2,000 00 
3,000 00 
3,000 00 
5,000 00 

$305,990 00 $201,208 28 



8 



BERKSHIRE LIFE INSURANCE CO. 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost Value. Market Value. 

262 shares Pittsfield National Bank, . . $37,957 00 $37,990 00 

300 " Agricultural National Bank, . 60,000 00 75,000 00 

250 " Adams National Bank, . . 31,250 00 30,000 00 

1,200 " Commercial Union Telegraph Co., 28,450 00 33,600 00 

121 " Berkshire R.R. Co., . . 13,915 00 18,150 00 

185 " Stockbridge & Pittsfield R.R , . 21,275 00 27,750 00 

220 " N. Y. Central & Hud. River R.R., 22,550 00 26,400 00 

200 " Chicago & Northwestern R.R., . 20,959 00 28,000 00 

150 " Pullman's Palace Car Co., . . 15,000 00 23,250 00 

114 " Northwestern Telegraph Co., . 5,976 50 6,270 00 

100 " Delaware & Hudson Canal Co., . 12,400 00 10,600 00 

100 " Central R.R. of New Jersey, . 9,900 00 9,450 00 

20 " Millerton National Bank, . . 1,800 00 1,800 00 

United States bonds, 147,220 25 152,810 00 

New York & New England R.R. bonds, . . 37,675 00 41,300 00 

St. Louis & Iron Mountain R.R. bonds, . . 10,000 00 10,500 00 

N. Y. Central & Hudson River R.R. bonds, . 31,500 00 32,445 00 

Pittsfield Fire District bonds, .... 52,500 00 55,000 00 

Hinsdale Fire District bonds, .... 29,000 00 29,000 00 

Readsboro Fire District bonds, . . . 9,000 00 9,000 00 

Burlington & Missouri River R.R. bonds, . 29,789 00 31,624 00 

Michigan Central R.R. bonds, .... 10,702 50 10,900 00 

Chicago & Western Indiana R.R. bonds, . . 10,650 00 11,800 00 

Chicago, Burlington & Quincy R.R. bonds, . 10,625 00 11,300 00 

Louisiana & Missouri River R.R. bonds, . . 10,295 00 10,500 00 

Iowa Falls & Sioux City R.R. bonds, . . 9,515 00 10,400 00 

West Indianapolis bonds, 19,445 00 20,880 00 

N. Y. & New Jersey Telephone Co. bonds,. . 25,796 85 26,750 00 

Pittsfield Electric Street R.R. bonds, . . 15,000 00 15,450 00 

Chicago, Wisconsin & Minnesota R.R. bonds, 9,000 00 10,500 00 

Chesapeake & Ohio R.R. bonds, . . . 55,557 08 57,500 00 

N. Y., Susquehanna & Western R.R. bonds, . 10,100 00 10,600 00 

Kan. City, St. Joseph & Coun. Bluffs R.R. b'ds, 28,937 50 30,000 00 

Lincoln & Northwestern R.R. bonds, . . 10,787 50 11,160 00 

Atchison & Nebraska R.R. bonds, . . . 8,258 75 8,400 00 

New York, Ontario & Western R.R. bonds, . 9,636 10 9,540 00 

Cincinnati, Hamilton & Dayton R.R. bonds, . 20,925 00 21,200 00 

City of Omaha bonds, 2,500 00 2,500 00 

Wilmar & Sioux Falls R.R. bonds, . . . 21,125 00 22,000 00 

City of Marietta, Ohio, electric light bonds, . 12,925 00 13,080 00 

Cincinnati, Dayton & Ironton R.R. bonds, . 27,618 75 27,500 00 

Richmond & Danville R.R. bonds, . . . 42,012 76 43,400 00 

Pine Creek R.R. bonds, . 67,300 00 66,000 00 

Penn. & New York Canal & R.R. bonds, . . 31,700 00 30,600 00 

Pittsburg & Lake Erie R.R. bonds, . . . 29,050 00 30,500 00 



JOHN HANCOCK MUTUAL LITE INSURANCE CO. 



Cleveland, Lorain & Wheeling R.R. bonds, 
St. Lawrence & Adirondack R.R. bonds, . 
Union Pacific R.R. bonds, .... 
Nashville, Chatt. & St. Louis R.R. bonds, 
Second Avenue R.R., N. Y., bonds, . 
Utah & Northern R.R. bonds, . 
N. Y. Central & Hudson River R.R. bonds, 
Chicago, Rock Island & Pacific R.R. bonds, 
United States Envelope Co. bonds, . 
Central R.R. of New Jersey bonds, . 

Rutland R.R. bonds, 

Pontoosuc Woollen Manufacturing Co. loan, 

Northampton Street R R. loan, 

Pittsfield Electric Co. loan, 

Berkshire County loan, 

Dalton Fire District bonds, 

Town of Dalton loan, 

City of Pittsfield loan, 

Town of Cheshire loan, . 

Town of Lanesboro loan, . 



Cost Value. 

820,600 00 
27,031 25 
46,125 00 
25,480 00 
27,343 75. 
59,250 00 
13,300 00 
3,000 00 
20,000 00 
28,125 00 
26,687 50 
25,000 00 
60,000 00 
25,000 00 
35,000 00 
25,000 00 
15,500 00 
74,000 00 
9,600 00 
1,500 00 



Market Value. 

$21,200 00 
27,500 00 
51,000 00 
26,400 00 
29..000 00 
59,000 00 
19,600 00 
3,120 00 
21,000 00 
28,250 00 
27,500 00 
25,000 00 
60,000 00 
25,000 00 
35,000 00 
25,000 00 
15,500 00 
74,000 00 
9,600 00 
1,500 00 



$1,695,122 04 $1,786,569 00 



JOHN HANCOCK MUTUAL LIFE INSURANCE COMPANY, 

BOSTON. 

[Incorporated April 21, 1862. Commenced business Dec. 27, 1862.] 

Stephen H. Rhodes, President. Roland O. Lamb, Secretary. 

Principal Office, 1 78 Devonshire Street. 

Income. 

Received for premiums on new policies (regular) , . . $386,332 75 

for renewal premiums (regular), .... 927,82603 

for industrial premiums, 4,929,875 03 

Dividends applied to pay running premiums (regular), . 147,695 87 

to pay running premiums (industrial), . 109,624 33 

to purchase paid-up additions, . . . 17,229 15 

Surrender values applied to purchase paid-up insurance, . 964 32 

Total, $6,519,547 48 

Deduct amount paid for reinsurance, 6,743 32 

Total premium income, $6,512,804 16 

Received for interest, 417,558 64 

as discount on claims paid in advance, . . . 489 65 

for rents of company's property, .... 108,420 93 
for reinsurance, 840 24 



10 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



Premium notes or loans restored, 
Agents 1 deposits, 



8540 59 
2,505 13 



Total income $7,043,159 34 

Net or ledger assets Dec. 31, 1897, 10,012,406 68 



Total, 



Disbursements. 

Paid for losses and additions,* .... 
Paid for matured endowments and additions, . 



$17,055,566 02 



$1,874,014 73 
39,855 44 



Gross amount paid for losses and endowments, 

Paid to annuitants, 

Premium notes or loans voided by lapse, 

Cash dividends paid policy holders, 

applied to pay running premiums (regular), 
applied to pay running premiums (industrial) , 
applied to purchase paid-up additions, . 

Surrender values paid in cash, 

Surrender values applied to purchase paid-up insurance, 

Total paid policy holders, 

Cash paid for commissions to agents, .... 

for salaries and allowances to managers and agents 
for medical examiner's fees, .... 
for salaries of officers and home office employees 

for taxes on premiums, 

for taxes on reserves, $13,836.06 ; internal revenue 

$11,850.24 

for taxes on real estate, .... 
for fees, licenses, etc., .... 

for rent, 

for advertising, printing and postage, . 

for legal expenses, 

for furniture and office fixtures, 

for real estate expenses (except taxes) , 

for loss on sales of property, . 

for incidentals, 



.,913,870 17 

88 63 

3,866 02 

3,026 88 

147,695 87 

109,624 33 

17,229 15 

204,773 97 

964 32 



$2,401,139 34 

1,598,041 35 

545,376 67 

178,861 98 

147,925 66 

35,042 49 

25,686 30 
16,380 92 

8,364 78 
73,813 29 
61,366 62 
25,054 99 

7,379 24 
37,134 75 
23,925 53 
28,745 57 



Total disbursements, $5,214,239 48 

Balance, 



$11,841,326 54 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 



$1,498,071 03 

3,116,797 64 

156,300 00 

411,410 00 



* Includes industrial losses, $1,543,714.04. 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



11 



Premium notes or loans on policies in force, . 
Book value of stocks and bonds owned (schedule B), 
Cash in company's office, . 
Cash deposited in bank, . 
Agents' debit balances, 

Printing plant, 

Loans on personal security, 

Total, 

Deduct agents' credit balances, 

Total net or ledger assets, as per balance, 



$101,431 48 
6,131,360 68 
7,747 93 
415,741 88 
1,216 54 
1,500 00 
4,188 80 

$11,845,765 98 
4,439 44 

$11,841,326 54 



Other Assets. 

Interest due, $12,531.39 ; accrued, $144,382.48, 
Rents due, $467.08 ; accrued, $6,459.80, . 
Market value of stocks and bonds over book, . 



156,913 87 

6,926 88 

235,104 54 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. 

$51,272 35 
49,002 75 



Total assets, per company's books, . 



Renewals. 

$81,450 74 
146,499 05 



,275 10 $227,949 79 
20,055 02 45,589 96 



$80,220 08 $182,359 83 



262,579 91 
$12,502,851 74 



Items not admitted. 

Agents' debit balances, 

Loans on personal security, .... 

Printing plant, 

Total, ■ 

Total admitted assets, .... 



$1,216 54 
4,188 80 
1,500 00 



6,905 34 



$12,495,946 40 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), 
Deduct net value of reinsured risks, 



Net reserve, .... 
Matured endowments due and unpaid, 
Death losses in process of adjustment, 
Claims resisted by the company, 

Total policy claims, . 



,659,844 00 
23,103 00 

$10,636,741 00 



$360 00 
63,052 00 
10,000 00 



73,412 00 



12 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



Agents' deposits, $19,769 93 

Unpaid dividends of surplus due policy holders, . . . 22,048 38 

Premiums paid in advance, 42,533 17 

Due for taxes, fees, salaries, expenses, etc., .... 77,340 63 

Cash surrender values, 88,674 42 

Special reserve for dividends and possible depreciation, . 200,000 00 

Liabilities as to policy holders, $11,160,519 53 

Surplus as regards policy holders, 1,335,426 87 

Gross liabilities, $12,495,946 40 



Premium Note Account. 



Premium notes on hand Dec. 31, 1897, 

rec'd during 1898 (old policies) , 
restored by revival of policies, 

Total, 

Used in payment of losses and claims, 
Used in purchase of surrendered policies, 

Voided by lapse, 

Used in payment of dividends to policyholders, 

Redeemed by maker in cash, .... 

Total, 

Balance note assets Dec. 31, 1898, . 



$87,911 59 

37,939 85 

540 59 

$3,050 64 
3,269 15 
3,866 02 
9,483 96 
5,290 78 



$126,392 03 



24,960 55 



$101,431 48 



Exhibit of Policies. 



Policies and Additions in Force Dec. 31, 1897. 




Number. Amount. Total No. 


Total Amount, 


Whole life, . . . 10,169 $20,816,141 00 




Endowment, . . . 6,284 12,427,323 00 




All other, .... 497 1,501,800 00 




Reversionary additions, . - 117,416 00 


>U 8fi9 fi80 (] 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 

. 5,752 $11,963,988 00 
732 1,289,500 00 
416 1,418,400 00 



6,900 14,671,888 00 



Whole life, 
Endowment, 
All other, . 



Old Policies revived. 

17 $44,000 00 

2 2,000 00 

1 2,000 00 



20 



48,000 00 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



13 



Whole life, 
Endowment, 

Additions by dividends, 
Total, . 



Old Policies increased. 

Number. Amount. Total No. 

$13,034 00 
28,518 00 



Total Amount. 

$41,552 00 
35,879 00 



23,870 $49,659,999 00 



Policies terminated during the Year. 
Whole life, . . . 2,247 $5,279,412 00 
Endowment, ... 594 1,190,198 00 
All other, .... 274 975,245 00 



By death, . 

maturity, 

expiry, . 

surrender, 

lapse, . 

change and decrease, 
Not taken, . 



3,115 $7,444,855 00 

How terminated. 

177 $371,430 00 

25 39,339 00 

5 5,000 00 

575 1,045,606 00 

1,170 2,634,250 00 

436,530 00 

1,163 2,912,700 00 



3,115 7,444,855 00 



Policies in Force Dec. 31, 1898. 



Whole life, 

Endowment, 

All other, .... 

Reversionary additions, . 

Industrial policies in force, 



13,691 

6,424 

640 



$27,557,751 00 

12,557,143 00 

1,955,200 00 

145,050 00 



20,755 42,215,144 00 
. 956,382 124,923,200 00 



Schedule A. 



Securities held as Collateral. 



50 shares Middlesex Banking Co., . 
600 " Chic, Burl. & Quincy R.R. Co., 
600 " Chic. Jc. Ry's & Un'n Stk. Yds. Co. 
City of Portland, Oregon, bonds, 
City of Aberdeen, South Dakota, bonds, . 
City of Grand Island, Nebraska, bonds, . 
Terre Haute Water Works Co. bonds, 
Cleveland Electric Railway Co. bonds, . 
Metropolitan Street Railway Co. bonds, . 
The Erie Telegraph and Telephone Co. bonds 
Illinois Steel Co. bonds, .... 
40 shares the New Eng. Nat. B'k of Kan. City 
27 " the American Bell Telephone Co , 



Market Value. 

$3,500 00 
75,000 00 
84,000 00 
6,000 00^1 
6,150 00 j 
5,075 00 
5,000 00 
5,275 00 
5,050 00 J 
25,375 00 
1,950 00 
5,000 00 
7,506 00 



Loaned Thereon. 

$3,000 00 
100,000 00 



> 25,000 00 



20,000 00 

1,300 00 

4,000 00 

3,000 00 

$234,881 00 $156,300 00 



14 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



Schedule B. 

Stocks and Bonds owned by the Company. 



100 shares New England National Bank, 
35 " Boylston National Bank, 

100 " Washington National Bank, . 
22 " State National Bank, 
25 " Tremont National Bank, 
60 " Boston Natl Bank, Seattle, Wash. 
25 " American Loan & Trust Co., . 
10 " Colorado Mining Exchange Build'g 

500 " Chic, Burl. & Quincy R.R. Co., 
75 " Boston & Maine R.R. Co., 

325 " Atchison, Top. & Santa Fe R'y Co. 
70 " Oregon R.R. & Navigation Co., 
75 " Northern Pacific R'y Co., 
70 " St. Jos. & Grand Island R'y Co., 

212 " Chic, Indianap. & Louisv. R'y Co. 

100 " Chic. & Northwestern R'y Co., 

170 " Atchison & Eastern Bridge Co., 

Commonwealth of Massachusetts bonds, 

County of Marion, Ind., bonds, 

County of Columbia, Wash., bonds, 

County of Lincoln, Neb., bonds, 

County of Finney, Kan., bonds, 

County of Thurston, Wash., bonds, 

County of Meagher, Mont., bonds, 

County of Shoshone, Idaho, bonds, 

County of Missoula, Mont., bonds, 

County of Kootenai, Idaho, bonds, 

County of Cascade, Mont., bonds, 

County of La Plata, Colo., bonds, 

County of Pitkin, Colo., bonds, 

County of Rio Grande, Colo., bonds 

County of St. Louis, Minn., bonds, 

County of Union, Iowa, bonds, 

County of Ramsey, Minn., bonds, 

County of Wells, Ind., bonds, . 

County of Hennepin, Minn., bonds, 

County of Otter Tail, Minn., bonds, 

County of Pierce, Wash., bonds, 

County of Hudson, N. J , bonds, 

County of Lucas, Ohio, bonds, 

County of Marion, Ohio, bonds, 

County of Clark, Ind., bonds, . 

County of Rock Island, 111., bonds, 

County of Ripley, Ind., bonds, . 

County of Vigo, Ind., bonds, . 



Book Value. 

$12,031 00 

4,362 50 

13,537 50 

2,531 50 

2,500 00 

6,000 00 

2,550 00 

10,000 00 

41,084 62 

8,236 12 

8,261 31 

1,050 00 

2,416 25 

2,800 00 

6,360 00 

16,500 00 

4,250 00 

93,270 00 

42,737 50 

11,800 00 

4,195 00 

10,825 00 

10,700 00 

10,600 00 

14,392 35 

10,762 50 

15,412 50 

10,600 00 

5,400 00 

5,400 00 

7,315 00 

10,000 00 

9,000 00 

10,325 00 

19,210 00 

31,800 00 

10,450 00 

10,600 00 

20,600 00 

21,112 50 

12,669 60 

21,512 50 

21,075 00 

10,562 50 

8,300 00 



Market Valne. 

$15,500 00 

4,235 00 

11,950 00 

2,530 00 

2,500 00 

4,500 00 

3,375 00 

10,000 00 

62,500 00 

12,750 00 

16,818 75 

5,040 00 

5,775 00 

3,500 00 

6,784 00 

18,550 00 

4,250 00 

106,500 00 

42,650 00 

10,800 00 

4,200 00 

10,825 00 

10,575 00 

10,625 00 

15,120 00 

11,200 00 

15,595 00 

11,000 00 

5.400 00 

5,350 00 

7,420 00 

11.100 00 

9,000 00 

11,025 00 

19,240 00 

34,800 00 

10,475 00 

10,550 00 

21,200 00 

20,650 00 

12,540 00 

21,350 00 

20,525 00 

10,400 00 

8,040 00 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



15 



County of Wayne, Mich., bonds, 
County of Lawrence, Ind., bonds, 
County of Middlesex, Mass., bonds, 
County of Macoupin, 111., bonds, 
City of St. Paul, Minn., bonds, 
City of South St. Paul, Minn., bonds, 
City of Yankton, Dak., bonds, . 
City of Fremont, Neb., bonds, . 
City of Sioux Falls, Dak., bonds, 
City of St. Cloud, Minn., bonds, 
City of Beloit, Kan., bonds, 
Nebraska City, Neb., bonds, 
Kansas City, Kan., bonds, 
City of Evansville, Ind., bonds, 
City of Chattanooga, Tenn., bonds, 
City of Fargo, North Dakota, bonds, 
City of Columbus, Ohio, bonds, 
City of Huron, South Dakota, bonds, 
City of Middlesborough, Ky., bonds, 
Salt Lake City, Utah, bonds, . 
City of East Portland, Ore., bonds, . 
City of Port Townsend, Wash., bonds, 
City of Ellensburgh, Wash., bonds, 
City of Wichita, Kan., bonds, . 
City of Astoria, Ore., bonds, 
City of Walla Walla, Wash , bonds, 
City of Olympia, Wash., bonds, 
City of South Omaha, Neb., bonds, 
City of Omaha, Neb., bonds, . 
City of Cheyenne, Wyo., bonds, 
Logan City, Utah, bonds, . 
City of New Whatcom, Wash., bonds, 
City of Beatrice, Neb., bonds, . 
City of La Grande, Ore., bonds, 
City of Snohomish, Wash., bonds, 
City of Colfax, Wash., bonds, . 
City of Fairhaven, Wash., bonds, 
City of Woodland, Cal., bonds, 
City of Port Angeles, Wash , bonds, 
City of Great "Falls, Mont., bonds, 
City of Boston, Mass., bonds, . 
City of Cleveland, Ohio, bonds, 
City of Somerville, Mass., bonds, 
City of Lynn, Mass., bonds, 
City of Haverhill, Mass., bonds, 
City of Toledo, Ohio, bonds, . 
City of Marietta, Ohio, bonds, . 
City of Seattle, Wash., bonds, . 



Book Value. 
$20,000 00 

10,775 00 
51,531 00 
24,520 00 
10,375 00 
16,537 50 

8,496 25 

5,125 00 
14,525 00 
10,650 00 

6,337 50 
10,550 00 

4,000 00 

5,000 00 
10,900 00 
16,287 50 
20,550 00 
10,000 00 
12,270 00 

9,600 00 
10,925 00 
10,000 00 
10,000 00 

1,729 42 
10,600 00 

5,350 00 
10,637 50 

9,443 25 
10,675 00 
10,250 00 

4,875 00 
10,650 00 
10,000 00 

5,190 50 

5,175 00 
10,575 00 
10,594 00 

4,865 00 
10,000 00 
10,675 00 
60,025 00 
10,500 00 
25,375 00 
51,000 00 
15,337 50 
21,300 00 
20,212 50 
10,000 00 



Market Value. 

$20,300 00 

10,700 00 

51,687 50 

24,520 00 

12,000 00 

11,250 00 

8,925 00 

5,000 00 

;4,170 00 

11,500 00 

6,300 00 

11,000 00 

4,040 00 

5,350 00 

11,525 00 

16,487 50 

21,475 00 

5,000 00 

9,000 00 

10,137 50 

12,800 00 

11,150 00 

11,150 00 

1,746 90 

11,200 00 

5,587 50 

10,000 00 

9,360 00 

10,800 00 

10,000 00 

5,050 00 

10,000 00 

10,000 00 

5,200 00 

5,500 00 

11,000 00 

9,000 00 

5,000 00 

9,000 00 

10,475 00 

65,403 13 

10,750 00 

•25,500 00 

56,152 50 

16,950 00 

23,400 00 

21,185 00 

10,250 00 



16 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



City of Dayton, Ohio, bonds, . 
City of Pawtucket, R. I., bonds, 
City of Tacoma, Wash., bonds, 
Jersey City, N. J., bonds, 
City of South Bend, Ind , bonds, 
City of Fond du Lac, Wis., bonds, 
City of Lincoln, Neb., bonds, . 
City of Sandusky, Ohio, bonds, 
City of Ovvosso, Mich., bonds, . 
Boise City, Idaho, bonds, . 
City of Paterson, N. J., bonds, . 
City of Woonsocket, R. I , bonds, 
City of Medford, Mass., bonds, 
Long Island City, N. Y., bonds, 
Town of Spencer, Ind., bonds, . 
Elmwood Township, 111 , bonds, 
Town of South Bend, Wash., bonds, 
Town of East Providence, R. I., bonds, 
Village of St Albans, Vt., bonds, 
City of Columbus, Ohio, bonds, 
City of Port Huron, Mich., bonds, 
City of Mattoon, 111., bonds, . . 
City of Steubenville, Ohio, bonds, 
City of Omaha, Neb., bonds, . 
City of Lima, Ohio, bonds, 
Atlantic City, N. J , bonds, 
City of Pontiac, Mich., bonds, . 
City of Lincoln, Neb., bonds, . 
City of Duluth, Minn., bonds, . 
City of Perth Amboy, N. J., bonds, 
City of Richmond, Ind., bonds, 
City of Sandusky, Ohio, bonds, 
City of Pawtucket, R. I., bonds, 
Jersey City, N. J., bonds, . 
City of Lawrence, Mass., bonds, 
City of Boston, Mass , bonds, . 
City of Quincy, 111., bonds, 
City of Rock Island, 111., bonds, 
City of Newton, Mass., bonds, . 
City of Lynn, Mass., bonds, 
City of Fort Madison, Iowa, bonds, 
City of Cambridge, Mass., bonds, 
City of Woonsocket, R. I., bonds, 
East Providence, R. L, bonds, . 
City of Duluth, Minn., warrants, 
City of Decatur, 111., bonds, 
City of San Diego, Cal., bonds, 
City of Worcester, Mass., bonds, 



Book Value. 

$10,762 00 

10,000 00 

10,100 00 

26,812 50 

23,406 00 

21,275 00 

10,400 00 

41,291 25 

10,750 00 

10,350 00 

11,412 50 

20,000 00 

20,000 00 

20,400 00 

2,046 00 

4,975 00 

5,000 00 

10,000 00 

10,000 00 

45,482 00 

8,321 60 

8,160 00 

15,000 00 

21,325 00 

8,528 00 

28,062 50 

10,950 00 

10,100 00 

30,037 50 

34,383 75 

31,200 00 

5,206 25 

15,900 00 

42,695 00 

109,000 00 

107,644 50 

26,343 75 

25,557 40 

43,200 00 

21,350 00 

10,200 00 

137,062 50 

10,643 50 

33,225 00 

24,949 09 

15,787 50 

26,989 10 

29,500 00 



Market Value. 

$10,200 00 

10,800 00 

10,000 00 

30,500 00 

24,100 00 

21,575 00 

10,050 00 

40,402 50 

11,150 00 

10,437 50 

12,450 00 

21,650 00 

20,950 00 

21,200 00 

2,010 00 

5,100 00 

5,000 00 

10,800 00 

10,500 00 

46,725 00 

8,120 00 

8,320 00 

15,225 00 

21,000 00 

8,080 00 

29,625 00 

11,200 00 

10,100 00 

31,200 00 

35,300 00 

30,900 00 

5,250 00 

16,575 00 

43,325 00 

113,500 00 

107,162 50 

27,500 00 

26,400 00 

44,400 00 

22,050 00 

10,162 50 

137,062 50 

10,643 50 

33,450 00 

24,949 09 

15,787 50 

26,989 10 

29,500 00 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



17 



Board of Education, Emporia, Kan., bonds, 
Board of Education, Arkansas City, bonds, 
City of Seattle, Wash , School District bonds, . 
City of Albina, Ore., School District bonds, 
Helena, Mont., School District bonds, 
Ouray County, Colo., School District bonds, . 
City of Moscow, Ida., School District bonds, . 
Bozeman, Gallatin Co., Mont,, School Dist. b'ds, 
Duluth, Minn., School District bonds, 
Board of Education, Cleveland City, O., bonds, 
City of Springfield, Mo., School District b'ds, . 
Board of Education, Springfield City, O., b'ds, 
Board of Education, Kansas City, Kan., bonds, 
City of Lansing, Mich., School District bonds, 
Board of Education, City of Columbus, O , b'ds, 
Board of Education, Canton City, O., bonds, 
County of Arapahoe, Colo., School Dist. b'ds 
Minneapolis Gas Light Co , Minn., bonds, 
Saratoga Gas and Electric Lt. Co , N. Y., b'ds 
The Middlesex Banking Co., Conn., bonds, 
St. Paul Gas Light Co., Minn., bonds, 
Kansas City Electric Light Co. bonds, 
United Electric Securities Co. bonds, 
Sanitary District of Chicago, 111., bonds, . 
New England Telephone and Tele. Co. bonds 
Hamilton Manufacturing Co. loan, . 
Massachusetts Cotton Mills loan, 

Thorndike Co. loan, 

Washington Mills Co. loan, 

Whittenton Manufacturing Co. loan, 

Boston Electric Light Co. bonds, 

The William A. Slater Mills Corpor'n loan, 

Hamilton Woollen Co. loan, . 

The Erie Telegraph and Telephone Co. b'ds, 

Tremont and Suffolk Mills loan, 

Indian Head Mills, Ala., loan, . 

Cumberland Telephone and Tele. Co bonds, 

Somerville Electric Light Co. bonds, 

Cocheco Manufacturing Co. loan, . 

Central Union Telephone Co. bonds, 

The American Bell Telephone Co. bonds, 

Land and River Co. bonds, 

New York & New England R.R. bonds, . 

Chicago, Milwaukee & St. Paul R R. bonds, 

Consolidated R.R. Co. of Vermont bonds, 

Clev., Col., Cin. & Ind. R.R. bonds, . 

Wisconsin Central R.R. bonds, 

Atchison, Colorado & Pacific R.R. bonds, 



Book Value. 

$14,700 00 

3,112 50 

10,287 50 

10,675 00 

10,400 00 

5,500 00 

7,717 50 

4,758 75 

10,000 00 

10,050 00 

15,450 00 

10,425 00 

18,235 00 

26,375 00 

25,843 75 

22,150 00 

15,937 50 

25,725 00 

10,350 00 

2,000 00 

15,050 00 

5,985 00 

36,300 00 

21,125 00 

37,012 50 

50,000 00 

100,000 00 

25,000 00 

100,000 00 

50,000 00 

10,750 00 

75,000 00 

25,000 00 

50,000 00 

50,000 00 

25,000 00 

10,175 00 

2,543 75 

25,000 00 

27,325 00 

25,718 75 

5,500 00 

54,612 50 

10,612 50 

4,180 00 

9,750 00 

8,787 50 

4,275 00 



Market Value. 

^14,595 00 

3,000 00 

10,575 00 

11,475 00 

10,175 00 

5,000 00 

7,000 00 

4,725 00 

10,000 00 

10,300 00 

15,300 00 

10,250 00 

18,041 25 

25,937 50 

25,000 00 

22,150 00 

15,937 50 

26,000 00 

10,000 00 

2,000 00 

16,500 00 

6,120 00 

40,000 00 

22,800 00 

38,575 00 

50,000 00 

100,000 00 

25,000 00 

100,000 00 

50,000 00 

11,000 00 

75,000 00 

25,000 00 

50,750 00 

50,000 00 

25,000 00 

10,400 00 

2,562 50 

25,000 00 

27,500 00 

25,750 00 

5,500 00 

57,250 00 

12,900 00 

6,156 00 

13,000 00 

9,700 00 

5,700 00 



18 



JOHN HANCOCK MUTUAL LIFE INSURANCE CO. 



Chicago & Eastern Illinois R.R. bonds, . 

Little Rock & Fort Smith Railway bonds, 

St. Louis Cable & Western Railway bonds, 

The Marietta Mineral Railway bonds, 

Chicago, Burl'ton & Northern R.R. bonds, 

Canton St. R'y & Lakeside St. R.R. bonds, 

Des Moines Street R.R. bonds, 

Tarkio Valley R.R. bonds, 

St. Louis & Suburban Railway bonds, 

Cincinnati, Dayton & Ironton R.R. bonds, 

Kan. City & Memphis R'y & Bridge Co. b'ds 

The N'thera Pacific Terminal Co. of Ore. b'ds 

Minn., Lynd. & M'ka R'y & Minn. St. R'y b'ds 

Chicago, Burlington & Quincy R.R. bonds, 

Great Northern Railway bonds, 

Chicago & West Michigan Railway bonds, 

Kansas City Elevated Railway bonds, 

Met. W. Side Elev. R.R , Chicago, 111., bonds 

Kan. City, Fort Scott & Memphis R.R. bonds 

Superior Rapid Transit Railway, Wis., bonds 

Keithsburg Bridge Co., Keithsburg, 111., b'ds 

St. Paul City Railway bonds, . 

Mexican Northern Railway bonds, . 

Rio Grande Western Railway bonds, 

The Colo. Springs Rapid Transit R'y bonds, 

Salt Lake City, Utah, R.R. bonds, . 

Centralia & Chester R R. bonds, 

The Wichita Electric R'y & Light Co. bonds, 

Fitchburg R.R. bonds, .... 

Boston & Lowell R.R. bonds, . 

Boston & Maine R.R. bonds, . 

Eastern Railway of Minn, bonds, . 

Concord & Claremont R.R. bonds, . 

Car'ge, Watert'n & Sackett's Har. R.R. bonds 

Cambridge R.R. bonds, .... 

St. Johnsbury & Lake Champlain R.R. bonds 

Maine Central R.R. bonds, 

Kansas City, Mem. & Birmingham R.R. bonds 

Portland & Ogdensburg R'y bonds, . 

Connecticut River R.R. bonds, . 

Boston Consolidated Street R'y bonds, . 

West End Street R'y, Boston, bonds, 

Old Colony Steamboat Co. bonds, . 

Metropolitan Street R'y, Kan. City, bonds, 

Missouri, Kansas & Eastern R'y bonds, . 

Hereford R'y, P. Q., bonds, . 

Grand Avenue R'y, Kansas City, bonds, . 

Terminal R.R. Asso. of St. Louis bonds, . 



Book Value. 

$ 22,300 00 

6,800 00 

11,742 50 

9,500 00 

30,778 12 

10,475 00 

10,675 00 

6,645 00 

8,550 00 

30,475 00 

19,362 50 

10,700 00 

18,750 00 

71,191 25 

13,725 00 

10,700 00 

10,500 00 

18,450 00 

43,952 50 

10,200 00 

10,000 00 

9,250 00 

25,450 00 

42,314 45 

10,100 00 

10,000 00 

23,000 00 

9,500 00 

51,436 25 

25,000 00 

45,500 00 

10,055 00 

15,262 50 

11,500 00 

12,520 00 

22,950 00 

25,000 00 

3,030 25 

5,325 00 

35,000 00 

15,725 00 

20,712 50 

8,560 00 

9,700 00 

9,545 00 

15,000 00 

20,500 00 

42,000 00 



Market Value. 

$26,400 00 

10,500 00 

12,100 00 

1,500 00 

31,400 00 

10,000 00 

10,675 00 

6,150 00 

9,090 00 

33,000 00 

20,400 00 

11,000 00 

19,600 00 

78,800 00 

14,700 00 

9,431 00 

10,400 00 

12,800 00 

50,000 00 

10,000 00 

10,000 00 

9,700 00 

26,000 00 

45,500 00 

10,000 00 

10,000 00 

15,000 00 

1,000 00 

53,170 00 

27,615 00 

53,700 00 

11,000 00 

16,500 00 

12,000 00 

12,600 00 

25,000 00 

26,250 00 

8,055 00 

5,500 00 

35,350 00 

16,350 00 

21,550 00 

8,480 00 

9,850 00 

9,800 00 

14,850 00 

21,000 00 

44,150 00 



MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 



19 



Atch., Topeka & Santa Fe R'y bonds, 
West End Street R'y, Boston, bonds, 
Portland R'y, Portland, Ore., bonds, 
Merrimack Valley Street R'y bonds, 
Oregon Railroad & Navigation Co. bonds, 
Cons. St. R'y, Grand Rapids, Mich , bonds, 
Missouri, Kansas & Texas R'y bonds, 
Northern Pacific R'y bonds, 
Wilmar & Sioux Falls R'y bonds, . 
Detroit, Grand Rapids & West. R R. bonds, 
Chic. June. R'ys & Union St'k Y'ds Co. bonds 
The St Joseph and Grand Island R'y bonds, 
Oregon Short Line R.R. bonds, 
United Trac. & Electric Co., Prov., R. I., b'ds 
Louisville & Nashville R.R. bonds, . 
Commonwealth Avenue Street R'y bonds, 
The Concord & Montreal R.R. bonds, 
Chic, Indianapolis & Louisville R'y bonds, 
Central R.R. of New Jersey bonds, . 
Brockton, Bridgew'r & Taunton St. R'y bonds 
Fitchburg R.R. bonds, .... 
The Utah & Northern R'y bonds, . 
Chicago, Bur'ton & Quincy R.R. bonds, . 
Seaboard & Roanoke R.R. bonds, 
Union Pacific R.R. bonds, 
Bur'ton, Cedar Rapids & North'n R'y bonds, 
Chicago, Rock Island & Pacific R'y bonds, 
The Toledo Traction Co. bonds, 

Rutland R.R. bonds, 

Lynn & Boston R.R. bonds, 
Chic, Milwaukee & St. P. R'y bonds, 
N. Y. Central & Hudson River R.R. bonds, 
Pitts., Cin., Chicago & St. Louis R'y bonds, 
Chicago Terminal Transfer R.R. bonds, 
Central of Georgia R'y bonds, . 
Atchison & Eastern Bridge Co bonds, 
Carolina Central R.R. bonds, . 
Rockford R'y Light & Power Co. bonds, 



Book Value. 

$67,978 13 
80,050 00 
18,750 00 
10,250 00 
45,066 63 

1,800 00 
21,018 75 

5,000 00 
21,200 00 
19,216 25 
54,831 25 

3,250 00 
93,260 42 
53,062 50 
27,021 50 
10,600 00 
15,637 50 

4,000 00 
113,343 75 
21,200 00 
32,100 00 
30,375 00 
213,977 59 
10,300 00 
192,756 95 
26,625 00 
20,660 00 
10,100 00 
53,375 00 
42,075 00 
35,025 00 
94,865 28 
28,215 00 
46,500 00 
47,375 00 

9,750 00 

9,575 00 

2,500 00 



Market Value. 

$96,370 00 
84,925 00 
18,750 00 
10,500 00 
50,000 00 

1,500 00 
22,750 00 

6,850 00 
22,000 00 
22,500 00 
57,500 00 

4,000 00 
105,700 00 
55,750 00 
27,312 50 
10,600 00 
16,125 00 

4,500 00 
113,500 00 
21,200 00 
33,150 00 
30,250 00 
217,100 00 
10,300 00 
206,000 00 
26,625 00 
20,800 00 
10,100 00 
55,000 00 
42,100 00 
36,000 00 
97,500 00 
28,250 00 
47,000 00 
47,500 00 

9,750 00 

9,600 00 

2,500 00 



$6,131,360 68 $6,366,465 22 



MASSACHUSETTS MUTUAL LIFE INSURANCE COMPANY OF 

SPRINGFIELD. 

[Incorporated May 15, 1851. Commenced business Aug. 1, 1851.] 

John A. Hall, President. Henry M. Phillips, Secretary. 

Income. 
Received for premiums on new policies, .... $588,377 17 
Received for renewal premiums, . . . . . 3,027,991 13 



20 



MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 



Dividends applied to pay running premiums, .... $ 424,497 98 
Dividends applied to purchase paid-up additions, . . . 53,240 57 
Surrender values applied to purchase paid-up insurance, . 7,819 00 

Total, $4,101,925 85 

Deduct amount paid for reinsurance, 58,858 63 



Total premium income, $4,043,067 22 

Received for interest, 911,807 09 

as discount on claims paid in advance, . . . 403 74 

for rents of company's property, .... 30,437 57 

for reinsurance, 13,157 76 

Premium notes or loans restored, 4,911 47 



Total income, $5,003,784 85 

Net or ledger assets Dec. 31, 1897, 19,117,443 65 



Total, 



$24,121,228 50 



Disbursements. 

Paid for losses and additions, 

for matured endowments and additions, . 

on matured instalment policies, .... 

Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Net amount paid for losses and endowments, . 
Premium notes used in payment of dividends, 
Premium notes voided by lapse and used in purchase 

surrendered policies, 

Cash dividends paid policy holders, .... 
applied to pay running premiums, 
applied to purchase paid-up additions, . 

Surrender values paid in cash, 

Surrender values applied to purchase paid-up insurance, 
Interest on surrender values paid policy holders, . 



of 



Total paid policy holders, 

Cash paid for commissions to agents (new policies, $285, 

785.47; renewals, $222,421.84),. 
for salaries and allowances to managers and 

agents, 

for medical examiner's fees, .... 
for salaries of officers and home office employees 

for taxes on premiums, 

for taxes on reserves, $25,399.24 ; internal reve 

nue, $11,825.20, 

for taxes on real estate, .... 

for fees, licenses, etc., 

for rent, 



$1,300,829 71 

229,496 00 

13,777 98 



$1,544,103 69 
28,150 00 



$1,515,953 69 
66,981 21 

66,825 99 

21,450 92 

424,497 98 

53,240 57 

431,435 30 

7,819 00 

1,190 35 



$2,589,395 01 

508,207 31 

75,293 08 

45,556 50 

115,326 10 

30,132 57 

37,224 44 

7,067 55 

12,691 31 

28,792 74 



MASSACHUSETTS MUTUAL LITE INSURANCE CO. 



21 



Cash paid for advertising, printing and postage, . 

for legal expenses, .... 

for furniture and office fixtures, . 

for real estate expenses (except taxes), 

for incidentals, 

for premiums on securities purchased, . 
Profit and loss account, 



$51,120 38 
7,916 08 
2,041 86 
12,500 21 
20,315 60 
46,477 00 
21,589 88 



Total disbursements, 
Balance, 



$3,611,647 62 



$20,509,580 88 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost of real estate, . 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 

Premium notes or loans on policies in force, . 

Book value of stocks and bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 



Total net or ledger assets, as per balance, 



$490,577 45 

8,248,271 08 

245,400 00 

1,833,681 37 

712,966 82 

7,909,116 65 

560 97 

1,069,006 54 



$20,509,580 88 



Other Assets. 

Interest due, $7,490.48 ; accrued, $273,779.68, 

Rents accrued, 

Market value of stocks and bonds over book, . 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, .... 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

$74,611 10 $136,748 53 
76,276 60 408,576 32 



$150,887 70 $545,324 85 
30,177 54 109,064 97 



$120,710 16 $436,259 88 



281,270 16 

4,126 97 

683,500 22 



Total assets, per company's books, . 



556,970 04 
$22,035,448 27 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $19,909,582 00 
Deduct net value of reinsured risks, 244,191 00 



Net reserve, 



$19,665,391 00 



22 



MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 



Present value of unpaid instalments, 
Death losses in process of adjustment, 
Unpaid dividends of surplus due policy holders, 
Premiums paid in advance, 



Liabilities as to policy holders, . 
Surplus as regards policy holders, . 



Gross liabilities, 



Premium Note Account 



. 1156,561 77 

109,721 00 

128,389 63 

6,740 71 

♦20,066,804 11 
. 1,968,644 16 

$22,035,448 27 



Premium notes on hand Dec. 31, 1897, . . $716,730 87 

rec'd during 1898 (old policies) , 163,554 80 

restored by revival of policies, 4,911 47 

Total . $885,197 14 

Used in payment of losses and claims, . . $24,050 10 
in purchase of surrendered policies and 

voided by lapse, 66,825 99 

in payment of dividends to policy holders, 64,773 86 

Redeemed by maker in cash, .... 16,580 37 

Total, - 172,230 32 

Balance note assets Dec. 31, 1898, $712,966 82 

Exhibit of Policies. 
Policies and Additions in Force Bee. 31, 1897. 

Number. Amount. Total No. Total Amount. 

38,086 $94,908,765 00 

4,841 10,597,244 00 

1,133 3,034,284 00 

505,367 00 
44,060 $109,045,660 00 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



Whole life, 
Endowment, 
All other, . 



Whole life, 
Endowment, 
All other, . 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Tear. 
. 8,044 $17,495,250 00 
521 1,059,100 00 
765 1,923,500 00 



9,330 20,477,850 00 



Old Policies revived. 

50 $121,831 00 

4 11,000 00 

2 3,000 00 



56 



135,831 00 



Old Policies increased. 

$48,997 00 
8,588 00 
3,000 00 



Additions by dividends, 
Total, . 



60,585 00 
94,924 00 



53,446 $129,814,850 00 



MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 



23 



Policies terminated during the Year. 

Number. Amount. Total No. 

Whole life, . . . 4,621 $11,333,029 00 
Endowment, ... 494 1,110,986 00 
All other, .... 563 1,692,352 00 



Total Amount. 





5,678 


$14,136,367 00 




Ho w terminated. 


By death, . 


474 


$1,401,420 00 


maturity, 


78 


220,607 00 


expiry, 


25 


51,700 00 


surrender, . 


1,401 


2,910,620 00 


lapse, . 


. 1,935 


3,996,501 00 


change and decrease, 


- 


1,197,769 00 


Not taken, . 


, 1,765 


4,357,750 00 



5,678 $14,136,367 00 



Policies in Force Dec. 31, 1898. 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



41,572 $101,313,264 00 
4,870 10,565,881 00 
1,326 3,240,511 00 

558,827 00 



47,768 115,678,483 00 



Schedule A. 
Securities held as Collateral. 



20 shares P. C. Cheney Co , . 

10 " East Tilton Pulp Co., . 

10 " Excelsior Paper Co., 

50 " L. L. Brown Paper Co., . 
125 " Wason Manufacturing Co., 

80 " Agawam National Bank, 
Connecticut River Paper Co. bonds, 
63 shares Chapman Valve Co , . 
50 " Metallic Drawing Roll Co., 
75 " Connecticut River Paper Co., 
Springfield Steam Power Co. bonds, 

85 shares Metallic Drawing Roll Co., 
248 " Barre Water Co., . 
607 " Revere Water Co., . 
Exeter Manufacturing Co. bonds, . 
Chicago, Mil. & St. Paul R.R. bonds, 
Cin., Ind., St. Louis & Chicago R.R. bond, 



Market Value. 

$15,000 00- 

500 00 

500 00. 

11,250 00 

12,500 00 

4,400 00 

75,000 00 

13,230 00 

10,000 00 

7,500 00 

20,000 00 

17,000 00 

24,800 00 

60,700 00 

114,000 00 

3,810 00 

1,060 00 



Loaned Thereon. 

$10,400 00 

10,000 00 
11,000 00 

75,000 00 
15,000 00 

2,000 00 

20,000 00 

8,500 00 

10,000 00 

80,000 00 
3,500 00 



$391,250 00 $245,400 00 



24 



MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 



Schedule B. 

Stocks and Bonds owned by the Company. 

Book Value. Market Value. 

300 shares Hamp. L. & T. Co., SprTd, Mass., $30,000 00 $34,500 00 

246 " First Nat. Bank, Chelsea, Mass., . 31,980 00 24,600 00 

50 " Globe Nat. Bank, Boston, Mass., . 5,287 50 5,000 00 

100 " Union Nat. Bank, Chicago, 111 , . 12,000 00 12,500 00 

625 " Boston & Albany R.R , . . 75,021 86 153,750 00 

500 " Buffalo, Rochester & Pitts. R.R., . 27,500 00 37,000 00 

1,000 " N. Y., N. H. & Hartford R.R., . 173,134 25 199,750 00 

1,100 " N. Y., Chicago & St. Louis R.R., . 78,320 00 77,000 00 

2,000 " Pennsylvania R.R., . . . 113,218 75 122,750 00 

2,500 " Leadville Pow., Water &Min. Co., 22,229 00 25,000 00 

280 " Silverton Water Supply Co., . 26,844 95 28,000 00 

Atchison, Topeka & Santa Fe R.R. bonds, . 276,266 25 297,000 00 

Boston & Lowell R.R. bonds, .... 200,000 00 219,300 00 

Boston & Maine RR. bonds 130,000 00 139,950 00 

Buffalo, Rochester & Pittsburg R.R. bonds, . 14,220 00 14,700 00 

Chicago & Northwestern R.R. bonds, . . 100,000 00 119,000 00 

Chicago, Burlington & Quincy R.R. bonds, . 335,359 30 355,200 00 

Chicago, Milwaukee & St. Paul RR. bonds, . 100,000 00 107,000 00 

Chicago, Rock Island & Pacific R.R. bonds, . 300,000 00 314,250 00 

Central of Georgia R.R. bonds, . . . 157,997 77 162,250 00 

Cedar Rapids, Iowa Falls & N. W. R R. bonds, 50,000 00 52,500 00 

East Tenn., Virginia & Georgia R.R. bonds, . 100,000 00 114,000 00 

Georgia Pacific R.R. bonds, .... 57,500 00 61,250 00 

Iowa Central R.R. bonds 198,350 43 213,000 00 

Louisville & Nashville R.R. bonds, . . . 57,713 88 62,675 00 

Maine Central R.R. bonds, .... 164,875 00 176,600 00 

Mahoning Coal Co. bonds 45,097 24 60,000 00 

Mobile & Ohio R.R. bonds, .... 34,800 00 36,105 00 

Nashville, Chattanooga & St. Louis R.R. bonds, 50,000 00 56,500 00 

Northern Pacific R.R. bonds, .... 189,324 22 203,500 00 

Norwich & Worcester R.R. bonds, . . . 100,000 00 111,000 00 

N. Y., New Haven & Hartford R.R. bonds, . 100,000 00 114,500 00 

N. Y. Central & Hudson River R.R. bonds, . 178,000 00 194,000 00 

N. Y., Chicago & St. Louis R.R. bonds, . . 128,991 67 135,450 00 

Old Colony R.R bonds, 300,000 00 336,000 00 

Portland & Rumford Falls R.R. bonds, . . 100,000 00 106,000 00 

Pittsburg, Painesville & Fairport R.R. bonds, . 47,500 00 45,000 00 

Peoria & Eastern R.R. bonds, .... 28,519 72 8,800 00 

Pacific R.R. of Missouri bonds, . . . 134,000 00 142,040 00 

Pittsburg, Cinn., Chic. & St. Louis R.R. bonds, 150,700 00 156,180 00 

St. Louis, Iron Mountain & South. R.R. bonds, 100,000 00 106,000 00 

Terminal Railroad Asso. of St. Louis bonds, . 100,000 00 110,500 00 

Texas & Pacific R.R. bonds, .... 232,189 00 262,800 00 

Union Pacific R.R. bonds, .... 183,531 94 206,000 00 

Verdigris Valley, Ind. & West. R.R. bonds, . 40,000 00 36,000 00 



MASSACHUSETTS MUTUAL LIFE INSURANCE CO. 



25 



Virginia Midland R.R. bonds, 

Wabash R.R. bonds, . 

Western North Carolina R.R. bonds 

Washington, Ohio & Western R.R. bonds, 

Woonsocket & Pascoag R.R. bonds 

Wisconsin Central R.R. bonds, 

West End Street R'y, Boston, bonds 

Springfield Street R'y bonds, 

United States bonds, . 

Massachusetts State bonds, 

Tennessee State bonds, . 

Alabama State bonds, 

Henry County, Ohio, bonds, 

Jay County, Ind., bonds, . 

Leavenworth County, Kan., bonds, 

Lancaster County, Neb , bonds, 

Perry County, 111., bonds, 

Wayne County, Mich., bonds, 

Burlingame, Kan., bonds, . 

Columbus, Ohio, bonds, . 

Fairhaven, Wash., bonds, . 

Lexington, Ky , bonds, 

Moorhead, Minn., bonds, . 

Nashville, Tenn., bonds, . 

Norfolk, Neb , bonds, 

Norfolk, Va., bonds, 

Paris, Texas, bonds, . 

Pleasant Corner, Iowa, bonds, 

Seattle, Wash., bonds, 

Toledo, Ohio, bonds, 

Kewanee Town, 111., bonds, 

Douglass Town, 111., bonds, 

Oswego Town, Kan., bonds, 

Springfield, Mass., Masonic Hall bonds, 

Freeman Manuf. Co., Adams, Mass., bonds, 

Kansas City, Mo., warrants, 

Wallingford, Conn., Gas Light Co. bonds 

Hornellsville, N. Y., Water Co. bonds, 

Leavenworth City and Fort Water Co. bonds 

Chippewa Falls, Wis , Water Works Co b'ds 

Crookston, Minn., Water W., Pow.&L. Co. b'ds 

Thompsonville, Conn., Water Co. bonds, 



Book Value. 

$85,350 00 

264,666 40 

100,000 00 

44,830 00 

37,000 00 

45,375 00 

120,000 00 

400,000 00 

100,000 00 

100,000 00 

75,866 25 

24,000 00 

30,000 00 

75,000 00 

33,329 87 

69,970 00 

12,000 00 

250,000 00 

1,000 00 

49,000 00 

50,000 00 

49,250 00 

5,000 00 

100,000 00 

16,000 00 

100,000 00 

50,000 00 

10,000 00 

98,500 00 

76,000 00 

14,000 00 

19,000 00 

22,325 00 

70,000 00 

30,000 00 

2,438 25 

19,500 00 

24,375 00 

50,000 00 

34,868 15 

45,000 00 

25,000 00 



Market Value. 

$ 109,500 00 

306,125 00 

115,250 00 

48,537 50 

38,711 25 

31,000 00 

127,200 00 

400,000 00 

128,250 00 

100,000 00 

96,500 00 

25,800 00 

31,350 00 

77,625 00 

35,654 87 

70,000 00 

12,000 00 

265,000 00 

1,080 00 

52,185 00 

50,000 00 

54,750 00 

5,350 00 

107,500 00 

16,000 00 

111,750 00 

52,000 00 

10,000 00 

105,000 00 

79,810 00 

14,280 00 

19,000 00 

23,500 00 

70,000 00 

30,000 00 

2,438 25 

20,000 00 

25,750 00 

52,250 00 

41,070 00 

49,500 00 

26,000 00 



$7,909,116 65 $8,592,616 87 



2Q NEW ENGLAND MUTUAL LIFE INSURANCE CO. 



NEW ENGLAND MUTUAL LIFE INSURANCE COMPANY, BOSTON. 

[Incorporated April 1, 1835. Commenced buBlnees Dec. 1, 1843.] 

Benj. F. Stevens, President. S. F. Trull, Secretary. 

Principal Office, Post Office Square. 

Income. 

Received for premiums on new policies, 1426,742 56 

Received for renewal premiums, 2,354,033 02 

Distributions applied to pay running premiums, . . . 507,544 85 

Distributions applied to purchase paid-up additions, . . 21,692 85 

Surrender values applied to purchase paid-up insurance, . 23,192 18 



Total premium income, 83,333,205 46 

Received for interest, 1,051,067 31 

as discount on claims paid in advance, . . . 3,176 80 

for rents of company's property, .... 107,273 92 

Premium notes or loans restored, 6,048 95 

Total income, $4,500,772 44 

Net or ledger assets Dec. 31, 1897, 25,470,144 58 



Total, $29,970,917 02 

Disbursements. 

Paid for losses and additions, $1,644,640 07 

Paid for matured endowments and additions, .... 246,953 00 



Gross amount paid for losses and endowments, . . $1,891,593 07 

Premium notes or loans voided by lapse, .... 44,387 97 

Distributions paid policy holders, ...... 35,879 80 

applied to pay running premiums, . . . 507,544 85 

applied to purchase paid-up additions, . . 21,692 85 

Surrender values paid 508,750 25 

Surrender values applied to purchase paid-up insurance, . 23,192 18 



Total paid policy holders $3,033,040 97 

Cash paid for commissions and bonuses to agents (new poli- 
cies, $233,535.05; renewals, $128,305.32), . . 361,840 37 
for salaries and allowances to managers and agents, 43,467 80 

for medical examiner's fees, 27,021 00 

for salaries of officers and home office employees, 135,915 10 

.for taxes on premiums, 35,492 50 



NEW ENGLAND MUTUAL LIFE INSURANCE CO. 



27 



Cash paid for taxes on reserves, $25,845.97 ; internal revenue, 
$5,085.18, 
for taxes on real estate, 
for fees, licenses, etc., 
for rent, . 

for commuting commissions, 
for advertising, printing and postage, 
for legal expenses, .... 
for furniture and office fixtures, 
for real estate expenses (except taxes), 
for incidentals, .... 

Profit and loss account, 



Total disbursements, 



Balance, 



$30,931 15 
29,302 95 

9,061 28 
25,538 97 

6,600 32 
63,001 22 

4,913 95 

5,845 73 
50,263 35 
40,769 20 
26,580 45 



#3,929,586 31 



$26,041,330 71 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 
Premium notes or loans on policies in force, . 
Book value of stocks and bonds owned (schedule B), 
Cash deposited in bank, 



Total net or ledger assets, as per balance, 



$2,320,705 89 

6,748,745 00 

1,536,855 98 

975,758 94 

296,036 21 

13,044,784 47 

1,118,444 22 

$26,041,330 71 



Other Assets. 
Interest due, $58,407 ; accrued, $146,548, 
Rents due, $2,302.13 ; accrued, $14,247.87, 
Market value of stocks and bonds overbook, . 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



204,955 00 
16,550 00 ' 
. 1,338,966 73 



New Business. Kenewals. 

$26,980 13 $165,826 92 
68,029 00 373,252 88 



$95,009 13 $539,079 80 
19,001 82 107,815 96 



$76,007 31 $431,263 84 



507,271 15 



Total assets, per company's books, . 



$28,109,073 59 



28 



NEW ENGLAND MUTUAL LIFE INSURANCE CO. 



Liabilities. 

Computed premium reserve or net present value of all out- 



standing policies (actuaries 1 4 per cent.), . 

Death losses due and unpaid, .... $94,444 00 

Matured endowments due and unpaid, . . 15,233 00 

Death losses in process of adjustment, . . 123,321 00 

Claims resisted by the company, . . . 3,000 00 

Total policy claims, 

Unpaid distributions of surplus due policy holders, 

Liabilities as to policy holders, 

Surplus as regards policy holders, 



$25,441,548 00 



Gross liabilities, 



235,998 00 
147,830 98 

$25,825,376 98 
. 2,283,696 61 

$28,109,073 59 



Premium Note Account. 



Premium notes on hand Dec. 31, 1897, 
Premium notes received during 1898 (new pol 
icies, $133,113.60 ; old policies, $835,510.16) 
Premium notes restored by revival of policies 

Total, 

Used in payment of losses and claims, . 
Used in purchase of surrendered policies, 

Voided by lapse, 

Used in payment of dividends to policy holders 
Redeemed by maker in cash, . 
Transfer to policy loans, .... 
Transfer to deferred premiums,* 

Total, 



Balance note assets Dec. 31, 1898, 



$650,188 17 

968,623 76 
6,048 95 

f 19,839 78 

12,361 60 

44,387 97 

3,471 00 

792,096 75 
15,385 69 

441,281 88 



$1,624,860 88 



1,328,824 67 
$296,036 21 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount 

Whole life, . . . 11,878 $33,671,037 00 

Endowment, . . . 25,217 68,330,114 00 

All other 955 2,875,779 00 

38,050 $104,876,930 00 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 

. 3,913 $10,093,434 00 

. 1,502 3,226,785 00 

406 1,320,063 00 



5,821 14,640,282 00 



* Balance of quarterly note account transferred from ledger assets to deferred premium. 



NEW ENGLAND MUTUAL LIFE INSURANCE CO. 



29 



Whole life, 
Endowment, 
All other, . 



Whole life, 
Endowment, 
All other, . 



Old Policies Revived. 

Amount. 

$178,438 00 
123,500 00 



Number. 

70 
55 
17 



57,500 00 



Total No. 



Old Policies changed and increased. 
69 $83,127 00 

453 483,566 00 

5 4,046 00 



527 



Total Amount. 



142 $359,438 00 



570,739 00 



Total, 44,540 $120,447,389 00 



Policies terminated during the Year. 



Whole life, 


1,689 


$4,299,765 00 


Endowment, 


2,130 


5,088,870 00 


All other, . . . 


255 


777,600 00 




4,074 


$10,166,235 00 




How terminated. 


By death, . 


509 


$1,551,354 00 


maturity, 


75 


234,723 00 


expiry,. 


36 


85,100 00 


surrender, . 


956 


2,408,539 00 


lapse, . 


1,189 


2,601,976 00 


change and decrease, 


527 


1,239,268 00 


Not taken, . 


782 


2,045,275 00 



4,074 10,166,235 00 



Policies in Force Dec. 31, 1898. 



Whole life, 
Endowment, 
All other, . 



14,241 $39,726,271 00 

25,097 67,075,095 00 

1,128 3,479,788 00 



40,466 110,281,154 00 



Schedule A. 
Securities held as Collateral. 

Market Value. 

Rio Grande Western R.R. bonds, . . . $9,300 00 

Mexican Central R.R. bonds, .... 7,150 00 

100 shares Pullman's Palace Car Co., . . 15,900 00 

25 " Chicago, Burlington & Quincy R.R., 3,125 00 

Atchison, Topeka & Santa Fe R.R. bonds, . 1,895 00 

Swift & Co. bonds, 1,070 00 

8 certificates Huntington Avenue lands, . . 9,600 00 



} 



Loaned Thereon. 

$5,000 00 

1,450 00 
1,600 00 

8,500 00 



30 



NEW ENGLAND MUTUAL LIFE INSURANCE CO. 



Market Vaiue. Loaned Thereon. 



100 shares Westminster Bank, Providence, 
50 " New Eng. Nat'l Bank, Kan. City 
1,200 " Chic., Burlington & QuincyRR. 

116 " Mexican Telegraph Co., 

100 " Old Colony Trust Co., . 
Port Huron & Northwestern R.R. bonds, . 
Cumberland & Pennsylvania R.R. bonds, 
Illinois Steel Co. bonds, .... 
Oregon Short Line R.R. bonds, 
Chic. June. R'ys & Union Stock Y'ds Co. b'ds 
Illinois Steel Co. bonds, .... 

17 shares Amoskeag Manufacturing Co , 
204 " Mexican Telegraph Co., . 
167 " Kansas City Stock Yards Co., 
100 " Chic. June. R'ys & U. St'k Y'ds Co 
Oregon Short Line R.R. bonds, 

43 shares Boston Belting Co., 
100 " American Bell Telephone Co., 
679 " Chauncy Hall School, . 

50 " Boston & Albany R R., . 

40 " Central & So. American Tel. Co., 
100 " Lake Erie & Western R.R., . 

20 " American Loan & Trust Co , . 
225 " Oregon R'y & Navigation Co , 
Galveston, Harrisb'g & San Antonio R.R. b'ds 
United Electric Securities Co. bonds, 
Atchison, Topeka & Santa Fe R.R. bonds, 
Burl., Cedar Rapids & North. R.R. bonds, 
Kan. City, Clinton & Springfield R R. bonds, 
1,200 shares Atch., Top. & Santa Fe R R., 

300 " Chic. June. R'ys & U. St'k Y'ds Co. 
Bangor & Aroostook R.R. bonds, 
500 shares Kansas City Stock Yards Co., 
100 " Denver Union Stock Yard Co., 
700 " Boston Wharf Co., . 
Atchison, Topeka & Santa Fe R.R. bonds, 
206 shares Arlington Mills, 
Atchison, Topeka & Santa Fe R R. bonds, 
Atchison, Topeka & Santa Fe R.R. bonds, 
20 shares New Eng. Nat'l Bank, Kan. City, 
25 " Metropolitan St. R'y Co , Kan. City, 
50 " Merchants' Nat'l B'k, Indianapolis, 
Louisville, Evansville & St Louis R.R. bonds 
300 shares Norwich & Worcester R.R., 
Portland, Oregon, bonds, . 
Los Angeles, Cal., bonds, . 
17 shares Old Lowell National Bank, 

2 " Prescott National Bank, . 



$6,000 00 
6,250 00 
150,000 00 ■ 

23,200 00 >| 

80,000 00 
9,000 00 
5,350 00 

24,500 00 
9,240 00 

28,750 bo; 

34,300 00^ 

24,735 00 | 

40,800 00 \ 

18,704 00 j 

14,000 00 J 

6,500 00 

7,869 00 

27,700 00 

103,887 00 

12,250 00 

4,320 00^ 

7,400 00 

2,645 00 

11,700 00 

3,060 00 

7,760 00 

14,640 00 

4,400 00 

4,500 00 

62,400 00 

37,500 00 

92,700 00 

56,000 00 

11,000 00 

73,850 00 

44,430 00 

20,600 00 

19,950 00 

48,220 00 

2,500 00 

2,000 00 

6,500 00 

101,000 00 

61,500 00 

2,440 00 



fo,000 00 

4,500 00 

100,000 00 



100,000 00 



100,000 00 



10,000 00 

16,000 00 

25,000 00 

9,000 00 



30,000 00 



14,000 00 

40,000 00 
20,000 00 
80,000 00 

50,000 00 

50,000 00 
25,000 00 

25,000 00 

25,000 00 
2,000 00 
1,500 00 
2,000 00 

125,305 98 



3,472 25 



2,040 00 i 
252 00 J 



} 6,500 00 



NEW ENGLAND MUTUAL LIFE INSURANCE CO. 



31 



10 shares First Nat'l Bank of Dubuque, . 
20 " Home Insurance Co. of New York, 

5 " First Nat'l Bank of Dubuque, . 
New York Central & Hudson River R.R. b'ds 
140 shares Manchester & Lawrence R.R., 
205 " Boston & Maine R.R,, . 
100 " Merchants' Nat'l B'k, Indianapolis 
Wall St. Building Co., Kan. City, bonds, 
10 shares Chicago & Northwestern R.R., 
53 " West End Street Railway, 
10 " Worcester, Nash. & Rochester R.R , 
Atchison, Topeka & Santa Fe R.R. bonds, 
100 shares Buffalo, Roch. & Pittsburg R.R., 

25 " Chicago & Eastern Illinois R R., 
900 " Metropolitan St. R'y Co , Kan. City 
500 " Colorado Fuel and Iron Co., . 

60 " New England Trust Co., 

25 " Bay State Trust Co., 
800 " Atchison, Topeka & Santa Fe R.R. 
481 " Chicago & Northwestern, . 

50 " American Bell Telephone Co , 
100 " Chic. June. R'ys & U. St'k Yds. Co. 
100 " Old Colony Trust Co., . 
125 " Boston & Maine R.R., 
Fall River city bonds, .... 

Boston city bonds, 

Massachusetts State bonds, 

1 share Merrimack Manufacturing Co., 

10 shares Middlesex Company, 
200 •• Old Colony Trust Co., . 
120 " Metropolitan St. R'y Co., Kan. City, 



Market Value. 
$1,000 00 

4,000 00 

500 00 

9,700 00 

.33,635 00 

34,850 00 

13,000 00 

250,000 00 

1,420 00 

5,883 00 

1,320 00 

1,580 00 

7,400 00 

2,812 50 

72,000 00 

16,000 00 

14,880 00 

3,125 00 

41,600 00 

68,302 00 

13,850 00 

14,000 00 

30,000 00 

21,250 00 

29,250 00 

41,515 00 

42,260 00 

910 00 

1,150 00 

60,000 00 

9,600 00 



Loaned Thereon. 

$1,000 00 

500 00 
8,000 00 

54,000 00 

10,000 00 
200,000 00 

6,000 00 
8,000 00 



I 100,000 00 



50,000 00 
7,000 00 

50,000 00 



100,000 00 



i 2,000 00 

50,000 00 
8,000 00 



$2,186,646 75 $1,536,855 98 



Schedule B. 

Slocks and Bonds owned by the Company. 

Book Value. Market Value. 

72 shares Atlantic National Bank, . . $7,101 00 $8,136 00 

500 " Globe National Bank, . . . 50,000 00 50,000 00 

140 " Hide & Leather National Bank, . 14,000 00 15,015 00 

52 " Massachusetts National Bank, . 5,200 00 3,900 00 

91 " Merchants' National Bank, . . 13,650 00 14,469 00 

100 " New England National Bank, . 15,500 00 15,500 00 

120 •• State National Bank, . . . 10,273 10 13,800 00 

1,400 " Third National Bank, . . . 140,000 00 128,800 00 

160 " Tremont National Bank, . . 15,951 25 12,040 00 

134 " Webster National Bank, . . 13,400 00 14,304 50 

150 " Winthrop National Bank, . . 15,000 00 20,250 00 



32 



NEW ENGLAND MUTUAL LITE INSURANCE CO. 



100 shares Bay State Nat'l Bank, Lawrence 
50 " First National Bank, Cambridge 

107 " National City Bank, Lynn, . 

400 " Nicollet National Bank, Minn., 

150 " Boston NaCl Bank, Seattle, . 

658 " New Eng. Nat'l B'k, Kan. City, 

200 " American Loan and Trust Co., 

625 " Boston Safe Deposit & Trust Co. 

100 " Mattapan Deposit and Trust Co. 
70 " State Street Trust Co., . 

243 " N. E. Safe Deposit & Trust Co., 
1,063 " Boston & Albany R R., 

200 " Boston & Lowell R.R., . 

800 " Conn. & Passumpsic Rivers R.R. 

157 " Eastern R.R in N.H., . 

100 " Northern R.R., . 

200 " Portland, Saco & Portsm'th R.R., 

281 " N. Y., N. H. & Hartford R.R , 

300 " Boston & Providence R.R., . 

850 " Norwich & Worcester R.R., 

900 " Fitchburg R.R., . 

300 " Chicago & Alton R.R., . 
1,378 " Chic, Burlington & Quincy R.R., 

165 " Dt., Grand Rapids & West. R.R., 
1,000 " N. Y. Cent. & Hudson River R R., 

475 " St. Joseph & Grand Island R.R., 

250 " Union Pacific R R., 

500 " West End Street R'y, 
1,120 " Metropolitan St. R'y, Kan. City, 

50 " Boston Ground Rent Trust, 
1,650 " Boston Northwest Real Est. Co., 
5 " Dwight Manufacturing Co., 
50 " Mass. Cotton Mills, 

160 " Mass. Firep'f Stor. and Ware. Co. 

120 " Mass. Title Insurance Co., 
United States bonds, . 
Boston city bonds, . 
Boston sterling loan, 
Brookline, Mass., bonds, 
Cambridge, Mass., bonds, 
Holyoke, Mass., bonds, 
Lawrence, Mass., bonds, 
Lowell, Mass., bonds, 
Lynn, Mass., bonds, . 
Manchester, Mass., bonds, 
Milton, Mass., bonds, 
Medford, Mass., bonds, 
Newton, Mass., bonds, 



Book Value. 

$7,500 00 
7,500 00 
16,050 00 
40,000 00 
15,000 00 
70,430 57 
20,000 00 
93,750 00 
10,000 00 
7,000 00 
24,300 00 

159,450 00 
30,000 00 
80,000 00 
11,775 00 
10,000 00 
20,000 00 
39,350 00 
45,000 00 

127,500 00 
82,225 75 
30,000 00 

137,732 77 
2,297 47 

115,525 00 
17,000 00 
10,000 00 
37,500 00 

109,500 00 
50,000 00 

100,212 50 

5,000 00 

5,000 00 

16,000 00 

12,000 00 

616,037 50 

1,010,736 12 

85,070 00 

211,050 00 

125,850 00 
5,000 00 

153,591 63 
65,200 00 

175,000 00 

108,000 00 
34,000 00 
98,346 37 

108,825 00 



Market Value. 

$12,000 00 
8,600 00 
15,515 00 
32,000 00 
11,250 00 
82,250 00 
26,450 00 

134,375 00 

12,500 00 

7,402 50 

24,300 00 

260,435 00 
45,200 00 

123,000 00 
15,229 00 
15,562 50 
31,250 00 
56,200 00 
84,900 00 

174,250 00 
96,750 00 
49,500 00 

172,250 00 
6,270 00 

122,500 00 

19,375 00 

18,500 00 

55,500 00 

89,600 00 

45,000 00 

82:500 00 

3,800 00 

4,137 50 

16,000 00 

4,200 00 

671,875 00 

1,118,542 90 

88,531 90 

220,970 90 

149,937 00 
5,090 00 

167,055 10 
69,281 40 

185,758 40 

112,266 00 
34,476 90 

116,335 70 

123,942 00 



NEW ENGLAND MUTUAL LIFE INSURANCE CO. 



33 



New Bedford, Mass., bonds, 

Quincy, Mass., bonds, 

Salem, Mass., bonds, 

Waltham, ]\Iass , bonds, . 

Woburn, Mass., bonds, 

Worcester, Mass., bonds, . 

Bridgeport, Conn., bonds, 

Cincinnati, O., bonds, 

Columbus, O., bonds, 

Chicago, 111., bonds, . 

County of Cuyahoga bonds, 

Eden, Me., bonds, 

Helena, Mont., bonds, 

Indianapolis, Ind., bonds, . 

Johnston, R. I., bonds, 

Kansas City, Mo., bonds, . 

Lawrence, Kan , bonds, . 

Lewiston, Me , bonds, 

Lancaster, N H., Fire Precinct bonds, 

Lincoln, Neb., bonds, 

Minneapolis, Minn., bonds, 

Milwaukee, Wis., bonds, . 

Meredith Village Fire District bonds, 

Morrisville, Vt., bonds, 

Marietta, O., bonds, . 

New Hampshire State bonds, . 

Norwich, Conn., bonds, . 

Omaha, Neb., bonds, 

Providence, R. I., bonds, . 

St. Paul, Minn., bonds, 

Sheboygan, Wis., bonds, . 

Seattle, Wash., bonds, 

St. Albans, Vt., bonds, 

Wayne County, Mich., bonds, . 

Willimantic, Conn , bonds, 

Boston & Maine R.R. bonds, . 

Maine Central R.R. bonds, 

Concord & Montreal R.R bonds, 

Connecticut River R.R. bonds, 

Portland Union R'y Station Co. bonds, 

New York, New Haven & Hart. R.R. bonds, 

New Haven & Derby R.R. bonds, 

Housatonic R.R. bonds, 

Norwich & Worcester R R. bonds, 

Boston & Providence R.R. bonds, 

Old Colony R.R. bonds, . 

Providence & Worcester R.R. bonds, 

Fitchburg R.R. bonds, 



Book Value. 

$10,000 00 

10,000 00 

10,000 00 

89,000 00 

16,000 00 

35,000 00 

50,000 00 

65,000 00 

28,000 00 

149,750 00 

50,000 00 

48,000 00 

50,000 00 

120,000 00 

55,000 00 

163,808 25 

50,000 00 

100,000 00 

40,100 00 

49,583 33 

185,000 00 

13,000 00 

35,000 00 

45,000 00 

49,000 00 

20,500 00 

69,000 00 

78,000 00 

53,153 06 

100,000 00 

100,000 00 

25,000 00 

17,980 00 

50,000 00 

80,000 00 

175,000 00 

110,153 75 

299,250 00 

60,000 00 

50,000 00 

145,993 75 

14,250 00 

100,000 00 

50,000 00 

125,000 00 

219,810 00 

139,000 00 

230,000 00 



Market Value. 

$ 10,585 00 
10,164 00 
10,745 00 
89,576 00 
16,316 00 
38,892 00 
54,145 00 
72,436 00 
28,742 00 

158,620 00 

48,978 00 

50,490 00 

120,030 00 

57,145 00 

170,935 00 

53,210 00 

111,220 00 

41,040 00 

51,450 00 

195,125 00 

13,456 00 

39,624 00 

46,243 00 

51,548 00 

22,844 00 

78,386 00 

79,902 00 

58,311 00 

112,900 00 

104,200 00 

25,000 00 

18,239 00 

51,150 00 

83,040 00 

194,500 00 

128,730 00 

327,000 00 

60,000 00 

52,375 00 

189,630 00 

15,675 00 

125,000 00 

54,500 00 

135,000 00 

248,750 00 

172,890 00 

246,300 00 



34 



NEW ENGLAND MUTUAL LIFE INSURANCE CO. 



Brookline & Pepperell R.R. bonds, . 
Pennsylvania R.R. bonds, 
Phila., Wilmington & Baltimore R.R. bonds, 
Delaware & Chesapeake R.R. bonds, 
Pitts., Cin., Chicago & St. Louis R.R. bonds, 
Baltimore & Ohio R R. bonds, . 
Pittsburgh, Cleveland & Toledo R R. bonds, 
New York Cen. & Hudson River R.R bonds, 
Sturgis, Goshen & St. Louis R.R. bonds, . 
Michigan Central R R. bonds, . 
Atchison, Topeka & Santa Fe R.R. bonds, 
Chicago, Burlington & Quincy R.R. bonds, 
Chicago, Burlington & Northern R.R. bonds, 
Burlington & Missouri River R.R. bonds, 
Chicago & Northwestern R.R. bonds, 
Fremont, Elkhorn & Mo. Valley R.R. bonds, 
Northern Illinois R.R bonds, . 
Ottumwa, Cedar Falls & St. Paul R.R. bonds 
Chicago, Milwaukee & St. Paul R.R. bonds, 
Dakota & Great Southern R R. bonds," . 
Chicago & Eastern Illinois R.R. bonds, . 
Evansville, Terre Haute & Chic. R.R. bonds, 
Chicago, Rock Island & Pacific R.R. bonds, 
Des Moines & Fort Dodge R R. bonds, . 
Chicago & West Michigan R.R. bonds, . 
Chic. June. Ry's & Union St'k Y'ds Co. bonds 
Cincinnati, Dayton & Ironton R.R. bonds, 
Dayton & Michigan R.R. bonds, 
Cleve., Cin., Chic. & St. Louis R.R. bonds, 
Duluth & Iron Range R R. bonds, . 
Detroit, Grand Rapids & Western R.R. bonds 
Kan. City, Clinton & Springfield R.R. bonds, 
Kansas Equipment Co. bonds, . 
Louisville, Evansville & St. Louis R.R. bonds 
Louisville & Nashville R.R. bonds, . 
Northern Pacific R.R. bonds, . 
Oregon Short Line R.R. bonds, 
St. Paul Union Depot Co. bonds, 
St. Joseph & Grand Island R.R. bonds, 
Union Pacific R.R. bonds, 
Denver City Street Railway bonds, . 
Globe Street Railway bonds, . 
Omaha Street Railway bonds, . 
St. Louis & Suburban Street Railway bonds, 
St. Louis Cable & Western Railway bonds, 
Worcester Consolidated Street Railway bonds 
North Chicago City Street Railway bonds, 
Metropolitan Street Railway bonds, 



Book Value. 

$50,000 00 

150,000 00 

193,871 67 

108,531 25 

50,000 00 

50,000 00 

50,000 00 

192,250 00 

36,250 00 

198,500 00 

224,965 25 

25,000 00 

93,700 00 

121,066 25 

50,000 00 

50,000 00 

100,000 00 

50,000 00 

98,942 50 

100,000 00 

196,950 00 

10,000 00 

98,500 00 

21,700 00 

40,490 00 

42,000 00 

47,750 00 

50,000 00 

91,000 00 

47,500 00 

20,640 00 

41,600 00 

25,000 00 

100,000 00 

99,500 00 

4,547 38 

50,000 00 

50,000 00 

21,240 00 

182,000 00 

86,000 00 

100,000 00 

98,500 00 

15,352 00 

50,000 00 

48,500 00 

30,000 00 

192,000 00 



Market Value. 

$54,750 00 

159,000 00 

213,900 00 

113,300 00 

57,125 00 

59,000 00 

53,750 00 

207,355 00 

37,500 00 

228,000 00 

314,500 00 

31,000 00 

101,050 00 

127,000 00 

57,800 00 

68,750 00 

105,000 00 

54,500 00 

118,500 00 

112,500 00 

221,000 00 

10,000 00 

106,875 00 

25,000 00 

47,325 00 

42,840 00 

55,000 00 

55,250 00 

87,000 00 

53,250 00 

20,250 00 

37,500 00 

25,000 00 

101,000 00 

99,500 00 

9,035 00 

65,000 00 

52,250 00 

20,750 00 

210,000 00 

22,000 00 

100,000 00 

100,000 00 

16,380 00 

56,000 00 

51,000 00 

32,100 00 

.202,000 00 



STATE MUTUAL LIFE ASSURANCE CO. 



35 



Corrigan Consolidated Street Railway bonds, 
Grand Avenue Railway bonds, . 
Kansas City Cable Railway bonds, . 
Brookline Gas Light Co. bonds, 
Chelsea Gas Light Co. bonds, . 
Denver Consolidated Gas Co. bonds, 
Minneapolis Gas Light Company bonds, 
Troy Gas Co. bonds, .... 
Charlestown Gas & Electric Co. notes, 
Maine Central R.R. Co. notes, . 
Town of Braintree notes, . 



Book Value. 

$95,600 00 
95,500 00 
99,500 00 
50,000 00 

100,000 00 
45,625 00 
50,000 00 
25,000 00 
25,000 00 

100,000 00 
15,000 00 



Market Value. 

$100,800 00 

102,000 00 

101,000 00 

54,000 00 

105,000 00 

50,500 00 

62,000 00 

27,000 00 

25,000 00 

100,000 00 

15,000 00 



$13,044,784 47 $14,383,751 20 



STATE MUTUAL LIFE ASSURANCE COMPANY, WORCESTER. 

[Incorporated March 16, 1844. Commenced business June 1, 1845.] 

A. G. Bullock, President. Henry M. Witter, Secretary. 

Income. 

Received for premiums on new policies, .... $281,696 57 

Received for renewal premiums, 2,065,355 31 

Dividends applied to pay running premiums, .... 281,551 68 

Dividends applied to purchase paid-up additions and annuities, 87,127 26 



Total, $2,715,730 82 

Deduct amount paid for reinsurance, 6,810 23 



Total premium income, $2,708,920 59 

Received for interest, 528,547 15 

as discount on claims paid in advance, . . . 632 55 

for rents of company's property, .... 89,987 64 
for reinsurance, 1,020 46 



Total income, $3,329,108 39 

12,579,063 74 



Net or ledger assets Dec. 31, 1897, . 
Total, 



Disbursements. 

Paid for losses and additions, 

Paid for matured endowments and additions, . 

Gross amount paid for losses and endowments, 
Cash dividends paid policy holders, 

applied to pay running premiums, 
applied to purchase paid-up additions 

annuities, 

Surrender values paid in cash, 



Total paid policy holders, . 



$15,908,172 13 



$714,299 96 
157,784 00 



and 



$872,083 96 

8,241 18 

281,551 68 

87,127 26 
367,394 65 



$1,616,398 73 



36 



STATE MUTUAL LIFE ASSURANCE CO. 



Cash paid for commissions and bonuses to agents (new poli- 
cies, $149,513.80; renewals, $160,558.17), . 
for salaries and allowances to managers and agents, 
for medical examiner's fees and inspections, . 
for salaries of officers and home office employees, 
for taxes on new premiums, $1,921.63; on re- 
newals, $11,985.45, 

for taxes on reserves, $21,085.45 ; internal reve- 
nue, $4,378.53, .... 
for taxes on real estate, . 
for fees, licenses, etc., 

for rent, 

for advertising, printing and postage, 
for legal expenses, .... 
for furniture and office fixtures, 
for real estate expenses (except taxes), 
for incidentals, .... 

Profit and loss account, 



Total disbursements, 
Balance, 



$310,071 97 
33,299 81 
24,385 00 
49,107 22 

13,907 08 

25,463 98 

21,485 99 

6,929 89 

48,068 80 

17,664 88 

2,526 96 

2,659 65 

29,488 77 

13,776 72 

58,268 49 



$2,273,503 94 



$13,634,668 19 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral 
Cost value of stocks and bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 



Total net or ledger assets, as per balance, 

Other Assets. 

Interest due, $5,915 ; accrued, $158,471.28, . 

Rents accrued, 

Market value of stocks and bonds over cost, . 

New Business. 

Uncollected premiums on poli- 
cies in force $39,242 39 

Deferred premiums on policies 

in force, 47,376 83 



$1,569,300 00 

2,558,719 55 

309,125 00 

645,366 00 

8,371,769 00 

2,476 18 

177,912 46 

$13,634,668 19 



164,386 28 

8,502 00 

559,898 00 



Total, 

Deduct loading (20 per cent.),. 

Net amount of uncollected and 
deferred premiums, 



$86,619 22 
17,323 84 



Renewals. 

$119,933 63 

226,495 26 

$346,428 89 
69,285 78 



$69,295 38 $277,143 11 



Total assets, per company's books, 



346,438 49 
$14,713,892 96 



STATE MUTUAL LIFE ASSURANCE CO. 



37 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries 1 4 per cent), 
Deduct net value of reinsured risks, 

Net reserve, 

Death losses in process of adjustment, . 

Liabilities as to policy holders, . 
Surplus as regards policy holders, . 



Gross liabilities, 



$13,225,722 00 
28,120 00 

$13,197,602 00 
47,808 00 

$13,245,410 00 
. 1,468,482 96 

$14,713,892 96 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, IS 97. 

Number. Amount. Total No. Total Amount. 

. 5,617 $15,438,173 00 

. 17,373 48,547,390 00 

311 1,130,243 00 

861,326 00 

23,301 $65,977,132 00 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 

. 2,209 $5,802,466 00 

. 1,298 2,659,000 00 

301 1,009,400 00 



3,808 9,470,866 00 



Whole life, 
Endowment, 



Old Policies revived. 

2 $2,000 00 

4 11,000 00 



13,000 00 



Old Policies transferred and increased. 
Whole life, ... 5 $18,049 00 

Endowment, ... 3 28,102 00 

All other, .... 1 5,000 00 



Additions by dividends, 



51,151 00 
167,638 00 



Total, 27,124 $75,679,787 00 

Policies terminated during the Year. 
Whole life, ... 768 $2,288,275 00 
Endowment, . . . 1,208 3,363,302 00 
All other, .... 129 510,992 00 



2,105 $6,162,569 00 



38 



STATE MUTUAL LIFE ASSURANCE CO. 





How terminated. 






Number. 


Amount. Total No. 


Total Ainount. 


By death, . 


236 


$688,752 00 




maturity, 


48 


152,784 00 




expiry, . 


3 


3,203 00 




surrender, . 


847 


1,957,886 00 




lapse, . 


510 


1,387,640 00 




change and decrea 


se, . 71 


968,397 00 




Not taken, . 


390 


1,003,907 00 








2,105 


86,162,569 00 



Policies in Force Dec. 31, 1898. 

Whole life, . . . 7,065 $18,972,413 00 

Endowment, . . . 17,470 47,882,190 00 

All other, .... 484 1,692,511 00 

Reversionary additions, . - 970,104 00 



25,019 69,517,218 00 



Schedule A. 
Securities held as Collateral. 



54 shares Norwich & Worcester R.R. Co., 
56 '» Washburn & Moen Mfg. Co., 
50 " Chic. June. R'y & U. St'k Y'd Co., 

7 " Worcester Electric Light Co., 
45 " Duncan & Goodell Co., Worcester 
20 " N. Y. Central & Hud'n R. R.R. Co. 
15 " Worcester National Bank, 
10 " Worcester Safe Deposit & Trust Co. 
59 " Mergenthaler Linotype Co , . 

500 " Torrington Co/s Trust Receipts, 
50 " Boston E. R.R. Co.'s Trust Receipts 

Cumberland Tel. & Tel. Co. bonds, . 

Oregon Short Line R.R. bonds, 

100 shares Osceola Consolidated Mining Co., 
6 " Boston & Albany R.R. Co., . 

400 " Washburn & Moen Mfg. Co., . 

New England Building Co. bonds, . . . 
12 shares Boston & Albany R.R. Co., 



Fitchburg R.R. Co., 
Boston & Montana Mining Co., 
Whitman & Barnes Mfg. Co., 
Landers, Frary & Clark, 
Pullman Palace Car Co., 
Quincy Mining Co., 
Globe Corset Co., . 
Goodyear Shoe Machinery Co., 



30 
250 

200 ' 
144 

20 
340 

26 

118 ' 
Chesapeake & Ohio R.R. bonds, 



Market Value. 

$11,070 00 

8,680 00 

7,150 00 

1,225 00 

4,500 00 

2,440 00 

2,025 00 

1,450 00 

10,620 00 

14,000 00 

4,000 00 

4,200 00 

10,900 00 

8,000 00 

1,440 00 

62,000 00 

35,000 00 

2,680 00 

3,120 00 

68,750 00 

14,000 00 

4,608 00 

3,100 00 

47,600 00 

2,600 00 

4,366 00 

1,150 00 



Loaned Thereon. 

$6,500 00 
5,200 00 

6,500 00 

1,500 00 
1,400 00 
1,500 00 



} 35,000 00 



1,000 00 
20,000 00 
30,000 00 

800 00 

25,000 00 

13,000 00 

1,800 00 
33,000 00 

2,600 00 
1,000 00 



STATE MUTUAL LIFE ASSURANCE CO. 



39 



100 shares Worcester Traction Co., . 

100 " Mechanics' National Bank, 

100 u Worcester Gas Light Co., 
40 " American Card Clothing Co., . 
43 " Worcester Electric Light Co., 
20 " N. Y. Central & HudVn R. R.R. Co. 

100 " United States Envelope Co., . 

United States Envelope Co. bonds, . 

United States Envelope Co. bonds, . 

City of Birmingham, Ala., bonds, . 

48 shares Holyoke Water Power Co., 

10 " N. Y Central & Hud'n R. R.R. Co., 

10 " Pullman Palace Car Co., . 
6 " Chicago & Alton R.R. Co., 
6 " Morris & Essex R.R. Co., . 

29 " Worcester Electric Light Co., . 
17 " Worcester Traction Co., . 
Receiver's certificates, Baltimore Bldg., Chic. 
New England Building Co. bonds, . 

The Southern Marble Co , Atlanta, bonds, 
United States Envelope Co. bonds, . . 
32 shares Providence & Worcester R.R. Co., 

30 " Norwich & Worcester R.R. Co., 



Schedule B. 
Stocks and Bonds owned by the 



625 shares Boston & Albany R R., . 

100 " Boston Elevated R.R., . 

300 " Boston & Maine R.R., . 

338 " Chicago & Alton R.R., . 

110 " Chic, Burlington & Quincy R.R., 

400 " Chicago & Northwestern R.R , 

330 " Chic, Rock Island & Pacific R.R., 

800 " Fitchburg R.R., 

400 " Illinois Central R.R , 

400 " Morris & Essex R.R., . 

400 " New London & Northern R.R., 

665 " N. Y., N. H. & Hartford R R., 

700 " Norwich & Worcester R.R , . 

500 " Providence & Worcester R.R., 

600 " West End St. R'y Co., . 

50 " American Bell Telephone Co., 

45 " State Safe Deposit Co., . 

90 " Adams National Bank, Adams, 

150 " Atlantic National Bank, Boston, 

221 " Central National Bank, Worcester, 



Market Value. 

$9,750 00 
9,000 00 

20,000 00 
4,600 00 
7,525 00 
2,440 00 
9,500 00 
8,480 00 

11,660 00 

18,750 00 
9,600 00 
1,220 00 
1,550 00 
990 00 
510 00 
5,075 00 
1,657 00 
4,000 00 

20,000 00 
5,000 00 
6,360 00 
8,320 00 
6,150 00 



Loaned Thereon. 

$30,000 00 

7,000 00 

8,000 00 

8,000 00 

11,000 00 

7,500 00 

3,000 00 



)> 3,000 00 

J 

I 5,200 00 

4,000 00 
I 20,000 00 

4,625 00 
I 12,000 00 



$512,811 00 $309,125 00 



Company. 

Cost Value. 

$97,851 00 

5,425 00 

47,924 00 

45,754 00 

13,256 00 

51,512 00 

35,085 00 

78,070 00 

47,643 00 

25,450 00 

62,477 00 

101,020 00 

126,481 00 

76,893 00 

50,825 00 

13,750 00 

4,500 00 

13,122 00 

18,388 00 

30,986 00 



Market Value. 

$150,000 00 

8,000 00 

50,400 00 

55,770 00 

13,200 00 

59,500 00 

36,960 00 

83,200 00 

44,800 00 

34,000 00 

70,000 00 

131,670 00 

143,500 00 

130,000 00 

58,800 00 

13,750 00 

4,500 00 

11,700 00 

17,400 00 

28,730 00 



40 



STATE MUTUAL LIFE ASSURANCE CO. 



40 shares City National Bank, Worcester, 
100 " Continental National Bank, Boston 
90 " Eliot National Bank, Boston, . 
50 " First National Bank, Boston, . 
112 " Hide and Leather N'l B'k, Boston 
25 " Leicester National Bank, 
25 " Millbury National Bank, 
100 " National Shawmut Bank, Boston, 
100 " Quinsigamond N'l B'k, Worcester 
115 " Redemption Nat'l Bank, Boston, 
75 " Republic National Bank, Boston, 
100 " Third National Bank, Springfield, 
50 " Tremont National Bank, Boston, 
25 " Wachusett Nat'l Bank, Fitch burg, 
33 " Webster National Bank, Boston, 
222 " Worcester National Bank, 
United States bonds, .... 
Atlantic Avenue R'y, Brooklyn, bonds, . 
Baltimore & Ohio R.R. bonds, . 
Boston, Clinton, Fitch. & N. Bedfd R.R. b'ds 
Boston & Maine R.R. bonds, . 
Boston, Revere Beach & Lynn R.R. bonds, 
Broadway Surface R'y, N. Y., bonds, 
Brooklyn City R.R., N. Y., bonds, . 
Burlington & Missouri River R.R. bonds, 
Central R.R., New Jersey, bonds, . 
Chicago, Burlington & Quincy R.R. bonds, 
Chicago & Eastern Illinois R.R. bonds, . 
Chicago & Indiana Coal R'y bonds, . 
Chicago, Milwaukee & St. Paul R.R. bonds, 
Chicago & Northwestern R.R. bonds, 
Chicago, Rock Island & Pacific R.R. bonds, 
Chicago, St. Paul, Minn. & Omaha R.R. bonds 
Chicago & Western Indiana R.R. bonds, . 
Chicago & West Michigan R'y bonds, 
Cincinnati, Hamilton & Dayton R.R. bonds, 
Cleveland, Cinn.,Chic. & St. Louis R.R. bonds 
Cleveland, Columbus, Cinn. & Ind. R.R. bonds 
Cleveland Electric R'y bonds, . 
Cleveland, Lorain & Wheeling R.R. bonds, 
Columbus Connecting & Terminal R.R. bonds 
Concord & Montreal R.R. bonds, 
Connecticut River R.R. bonds, . 
Consolidated St. R'y, Columbus, O., bonds, 
East Middlesex Street R'y bonds, . 
Ellwood Short Line R'y, Penn., bonds, . 
Essex Street R'y bonds, .... 
Evansville, Terre Haute & Chicago R.R. bonds 



Cost Value. 

$4,000 00 

10,012 00 

10,575 00 

5,000 00 

11,575 00 

2,650 00 

2,500 00 

15,600 00 

10,090 00 

15,985 00 

7,562 00 

10,000 00 

8,300 00 

2,500 00 

3,575 00 

32,413 00 

180,000 00 
43,175 00 

100,000 00 
33,000 00 
51,000 00 
11,200 00 
60,700 00 

109,500 00 
18,600 00 
56,500 00 

100,535 00 
80,910 00 
25,000 00 
29,750 00 

106,877 00 

100,000 00 
57,500 00 
44,900 00 
26,434 00 
50,000 00 

112,500 00 
19,800 00 
35,250 00 
47,500 00 
47,500 00 

100,000 00 

100,000 00 
50,000 00 
96,075 00 
22,500 00 
95,700 00 
10,250 00 



Market Value. 

$5,600 00 

11,900 00 

12,510 00 

10,600 00 

11,984 00 

3,625 00 

2,500 00 

15,000 00 

14,000 00 

13,570 00 

11,850 00 

20,000 00 

3,750 00 

3,750 00 

3,498 00 

28,860 00 

192,000 00 
42,450 00 
99,000 00 
33,300 00 
58,000 00 
11,200 00 
67,000 00 

114,000 00 
20,000 00 
56,500 00 

104,000 00 
97,400 00 
26,000 00 
31,500 00 

116,600 00 

104,000 00 
65,000 00 
48,000 00 
22,950 00 
54,000 00 

122,500 00 
23,400 00 
26,250 00 
54,000 00 
51,500 00 

104,000 00 

100,000 00 
50,000 00 
98,100 00 
26,000 00 

101,520 00 
10,000 00 



STATE MUTUAL LIFE ASSURANCE CO. 



41 



Fitchburg R.R. bonds, .... 
Fulton Elevated R'y bonds, 
Globe Street Railway, Fall River, bonds, 
Grand Ave. Railway, Kansas City, bonds, 
Housatonic R.R. bonds, .... 
King's County Elevated Railway bonds, . 
Lake Erie & Western R R. bonds, . 
Lehigh & New York Railway bonds, 
Lehigh Valley Terminal Railway bonds, 
Long Island City & Flushing R.R. bonds, 
Louisville & Nashville R.R. bonds, . 
Lowell, Lawrence & Haverhill St. R'y bonds, 
Lynn & Boston R.R. bonds, 
Maine Central R R. bonds, 
Maine Cent. & Europ'n & N. Amer. R.R. b'ds 
Metropolitan Street R'y, Kansas City, bonds, 
Metropolitan Street Railway, New York, b'ds 
Michigan Central R.R. bonds, . 
Milwaukee City R.R. bonds, . 
Minn., Lynndale & Minnetonka R'y bonds, 
Nassau Elec. & Atl'tic Av. R R., Brooklyn, b'ds 
New York Central & Hudson River R.R. b'ds 
New York, Lackawanna & Western R.R. bonds 
New York & New England R.R. bonds, . 
New York, New Haven & Hartford R.R. b'ds 
North Chicago City R.R. bonds, 
North End Street Railway, Worcester, bonds 
Northern Ohio R.R. bonds, 
Norwich & Worcester R.R. bonds, . 
Ohio River R R. bonds, .... 
Old Colony Steamboat Co. bonds, . 
Omaha Street Railway, Neb., bonds, 
Pacific R.R., Missouri, bonds, . 
Penobscot Shore Line R R. bonds, . 
Pittsburgh, Cleveland & Toledo R R. bonds, 
Portland & Ogdensburg R R. bonds, 
Rio Grande & W r estern R.R. bonds, . 

Rutland R.R. bonds, 

Saginaw Consolidated Street R'y bonds, . 
Saginaw Union Street R'y bonds, . 
Second Avenue R.R., New York, bonds, . 
St. Johnsbury & Lake Champlain R.R. bonds 
St. Louis, Iron Mount. & Southern R'y bonds, 
St. Paul, Minn. & Manitoba R.R. bonds, . 
Street R'y of Grand Rapids, Mich , bonds, 
Terre Haute & Indianapolis R.R. bonds, . 
Thirty-fourth St. Crosstown R.R., N. Y., b'ds, 
Toledo & Ohio Central R.R. bonds, . 



Cost Value. 

$96,925 00 
25,000 00 
29,950 00 
24,125 00 
77,750 00 
25,000 00 
96,500 00 
92,250 00 
52,500 00 
50,000 00 
49,750 00 
10,650 00 
25,750 00 
26,855 00 
90,000 00 
29,250 00 
82,500 00 

145,300 00 
28,000 00 
24,625 00 
45,000 00 
32,325 00 
73,270 00 
10,662 00 
56,010 00 
51,000 00 
5(T,500 00 

154,125 00 

100,000 00 
24,375 00 
26,000 00 
49,100 00 
30,000 00 
50,000 00 
21,200 00 
50,000 00 
19,500 00 
10,950 00 
9,800 00 
10,000 00 

109,750 00 
55,000 00 
52,000 00 
57,625 00 
16,050 00 
25,000 00 
86,500 00 
48,000 00 



Market Value. 

$99,200 00 
14,500 00 
30,600 00 
25,250 00 
93,750 00 
16,500 00 

110,000 00 
93,000 00 
56,000 00 
53,000 00 
50,000 00 
10,650 00 
26,250 00 
28,750 00 

108,000 00 
30,000 00 
87,000 00 

159,450 00 
28,840 00 
25,000 00 
47,250 00 
31,200 00 
82,600 00 
11,700 00 
69,700 00 
52,000 00 
53,000 00 

153,000 00 

107,000 00 
26,250 00 
25,500 00 
51,000 00 
31,200 00 
52,000 00 
21,600 00 
54,000 00 
22,500 00 
10,500 00 
7,500 00 
7,500 00 

112,000 00 
60,000 00 
52,500 00 
67,500 00 
13,500 00 
28,000 00 
87,750 00 
52,500 00 



42 



STATE MUTUAL LIFE ASSURANCE CO. 



Ulster & Delaware R.R. bonds, 

Union Pacific R.R. bonds, 

United Traction & Elec. Co., Prov., R.I., b'ds 

Wabash R.R. bonds, 

West End Street R 1 } 7 , Boston, bonds, 

West Side R.R , Milwaukee/bonds, . 

Wilkesbarre & Eastern R.R. bonds, 

Worcester Consolidated Street R.R. bonds, 

Worcester, Nashua & Rochester R.R bonds, 

Worcester & Shrewsbury R.R. bonds, 

Abstract Safety Vault Co., Chicago, bonds, 

American Bell Telephone Co. bonds, 

Central Union Telephone Co. bonds, 

Congress Hotel Co., Chicago, bonds, 

Crompton & Knowles Loom Works bonds, 

Edison Electric Illuminating Co., bonds, 

Maiden Electric Co. bonds, 

New England Teleph. & Tel. Co. bonds, 

The Erie Telephone & Telegraph Co. bonds, 

The Standard Gas Light Co., N. Y., bonds, 

United States Envelope Co. bonds, 

Worcester Gas Light Co. bond 

Attleborough, Mass., bonds, 

Bangor city bonds, . 

Beverly, Mass., bonds, 

Boston city bonds, 

Chicago city bonds, t 

Cincinnati city bonds, 

Cleveland city bonds, 

Clinton, Mass., bonds, 

Columbus city bonds, 

County of Franklin, Ohio, bonds, 

County of Hennepin and Minneapolis bonds, 

Duluth, Minn., bonds, 

Fostoria, Ohio, bonds, 

Indianapolis, Ind , bonds, 

Kansas City, Mo., School District bonds, 

Lawrence city bonds, 

Lowell city bonds, . 

Minneapolis city bonds, 

Montclair, N. J., bonds, 

Medford, Mass., bonds, 

Nashville, Tenn., bonds, 

Newton, Mass., bonds, 

Omaha, Neb., bonds, 

Pawtucket, R. I., bonds, 

Portland, Me., bonds, 

Providence, R. I., bonds, 



Cost Value. 

$15,600 00 
97,312 00 
25,000 00 
50,000 00 
64,780 00 
50,000 00 
48,750 00 

110,870 00 

104,750 00 

6,030 00 

52,000 00 

100,000 00 
26,250 00 
80,000 00 
6,000 00 
46,250 00 
31,800 00 
26,250 00 
24,250 00 
34,200 00 
95,000 00 

100,000 00 
43,000 00 
26,375 00 
51,375 00 
50,125 00 
19,000 00 
9,640 00 
50,000 00 
46,400 00 
77,500 00 
10,000 00 
51,500 00 
68,200 00 
20,000 00 
50,000 00 
23,800 00 
53,000 00 
52,000 00 
41,922 00 
99,625 00 
45,000 00 
10,000 00 
26,750 00 
56,625 00 
50,000 00 
19,000 00 
25,875 00 



Market Value. 

$15,000 00 

102,000 00 

27,500 00 

55,000 00 

68,600 00 

53,000 00 

48,000 00 

121,800 00 

107,000 00 

6,060 00 

45,900 00 

101,000 00 

27,000 00 

80,000 00 

6,000 00 

48,500 00 

31,800 00 

26,250 00 

25,000 00 

34,500 00 

106,000 00 

106,000 00 

44,290 00 

25,000 00 

52,000 00 

50,000 00 

19,000 00 

9,010 00 

53,500 00 

45,550 00 

78,250 00 

10,800 00 

54,000 00 

70,400 00 

20,800 00 

54,000 00 

25,750 00 

57,000 00 

53,000 00 

43,870 00 

104,300 00 

48,150 00 

10,500 00 

28,250 00 

58,550 00 

54,000 00 

22,800 00 

25,000 00 



STATE MUTUAL LIFE ASSURANCE CO. 



43 



Quincy, Mass., bonds, 

Quincy, 111., bonds, . 

Borough of Rutherford, N". J., bonds, 

St. Louis, Mo., bonds, 

St. Paul, Minn., bonds, 

Toledo, Ohio, bonds, 

Watertown, Mass., bonds, 

Wayne County, Mich., bonds, 

Abstract Safety Vault Co. loan 

Gardner Water Co. loan, . 

Washburn & Moen Mfg. Co. loan, 

The Barre Water Co. loan, 

Worcester Consolidated St. R'y Co. loan, 

Worcester, Nashua & Rochester R R. Co. loan, 



Cost Value. 

$20,000 00 
25,000 00 
48,000 00 
21,450 00 
50,500 00 
37,688 00 
50,000 00 
50,000 00 
8,000 00 
60,000 00 

100,000 00 

12,500 00 

9,000 00 

80,000 00 



Market Value. 

$20,920 00 
25,750 00 
53,500 00 
20,000 00 
52,270 00 
39,980 00 
52,000 00 
52,500 00 
8,000 00 
60,000 00 

100,000 00 

12,500 00 

9,000 00 

80,000 00 



$8,371,769 00 $8,931,667 00 



LIFE INSURANCE COMPANIES 

OF OTHER STATES. 



Detailed Statements of Assets and Liabilities, with Abstract 

of Annual Statements for the Year ending 

December 81, 1898. 



DETAILED STATEMENTS OF ASSETS AND LIABILITIES. 



".ETNA LIFE INSURANCE COMPANY," HARTFORD, CONN. 

[Incorporated 1820. Commenced business 1850.] 
Paid-up Capital, $1,750,000. 



Morgan G. Bulkeley, President. 



J. L. English, Secretary. 



Note. — As this company is doing both a life and accident business, and its assets are all held 
equally for the protection of both classes of policy holders, the assets are therefore not divided 
for the different departments. The details of both departments are given in their respective 
places. 



Income. 

Received for premiums on new policies, . . 

Received for renewal premiums, 

Dividends applied to pay running premiums, . 
Surrender values applied to pay running premiums, 
Surrender values applied to purchase paid-up insurance and 
annuities, 



Total, 

Deduct amount paid for reinsurance, 

Total premium income, .... 

Received for interest, 

as discount on claims paid in advance, 
for rents of company's property, 
for reinsurance, 

Profit on securities sold, . . . . 



Total income life department, . 
Total income accident department, . 



Gross income, .... 
Net or ledger assets Dec. 31, 1897, . 




$818,202 70 

4,032,982 66 

681,206 03 

22,513 28 

211,892 03 



$5,766,796 70 
2,385 15 



55,764,411 55 

2,348,055 01 

2,692 05 

35,095 25 

459 54 

40,661 87 



1,191,375 27 
672,979 36 



$8,864,354 63 
45,348,489 61 



Total, 



$54,212,844 24 



48 



iETNA LIFE INSURANCE CO. 



Disbursements. 

Paid for losses and additions, 

for matured endowments, .... 

on matured instalment policies, 

Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Net amount paid for losses and endowments, . 
Cash dividends paid policy holders, .... 
Cash dividends applied to pay running premiums,. 

Surrender values paid in cash, 

applied to pay running premiums, 
applied to purchase paid-up insurance and 
annuities, 

Total paid policy holders, 

Cash paid for dividends to stockholders, .... 

for commissions and bonuses to agents (new poli 

cies, $380,299.03 ; renewals, $289,417.88), . 
for salaries and allowances to managers and agents 
for medical examiner's fees and inspections, . 
for salaries of officers and home office employees, 
for taxes on new premiums, $6,533.87 ; on renew- 
als, $37,040.86 

for taxes on franchise, $92,726.02 ; on reserves 

$5,983.91 ; internal revenue, $9,444.32, 
for taxes on real estate, . 
for fees, licenses, etc , 

for rent, 

for advertising, printing and postage, 
for legal expenses, .... 
for furniture and office fixtures, 
for real estate expenses (except taxes), 
for incidentals, 



Total disbursements life department, 
Total disbursements accident department, 



Gross disbursements, 
Balance, 




$2,130,780 66 

1,083,018 45 

4,061 00 



$3,217,860 11 
2,750 00 



$3,215,110 11 

251,859 28 

681,206 03 

135,350 43 

22,513 28 

211,892 03 



1,517,931 16 
175,000 00 

669,716 91 

15,869 08 

49,380 41 

127,665 80 

43,574 73 

108,154 25 
10,553 71 
14,207 97 
28,198 84 
58,998 24 
31,324 49 
2,714 27 
18,746 96 
28,169 34 



$5,900,206 16 
542,174 10 



$6,442,380 26 



$47,770,463 98 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgage of real estate (first liens) , 
on collateral security (schedule A), 
on company's policies assigned as collateral, 



$471,631 00 

22,333,492 31 

537,321 14 

1,466,855 00 



iETNA LIFE INSURANCE CO. 



49 



Premium notes or loans on policies in force, . 
Cost value of stocks and bonds owned (schedule B), 
Cash in company's office, 
Cash deposited in bank, 
Bills receivable, 
Agents' debit balances, 

Total, . 
Deduct agents' credit balances, etc., 

Total net or ledger assets, as per balance, 



$543,201 88 

15,369,030 87 

200,343 88 

6,815,194 97 

16,957 40 

29,650 62 

$47,783,679 07 
13,215 09 

$47,770,463 98 



Other Assets. 

Interest due, $298,972.95; accrued, $542,243.14, 

Rents due, $125; accrued, $2,693.24, 

Market value of stocks and bonds over cost, . 



841,216 09 

2,818 24 

1,236,820 43 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, .... 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. 

$51,310 65 
38,002 65 



Total assets, per company's books, . 



Renewals. 

$150,025 68 
237,315 78 



$89,313 30 $387,341 46 
17,862 66 77,468 29 



$71,450 64 $309,873 17 



381,323 81 
$50,232,642 55 



Items not admitted. 



Agents' debit balances, 
Bills receivable, 
Total, . 



Total admitted assets, 
Deduct special deposits in other States, 



Balance, 



$29,650 62 
16,957 40 



46,608 02 

$50,186,034 53 
. 4,413,167 61 

$45,772,866 92 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $41,315,240 00 
Deduct net value of reinsured risks, 32,200 00 



Net reserve, $41,283,040 00 

Present value of unpaid instalments, 27,612 00 

Premium obligations in excess of net values of their policies, 3,097 06 

Commissions due on premium notes, 2,321 17 



50 



.ETNA LIFE INSURANCE CO. 



Matured endowments due and unpaid, , . 
Death losses in process of adjustment, . 
Claims resisted by the company, 

Total policy claims, 

Unpaid dividends of surplus due policy holders, 
Premiums paid in advance, .... 
Due for taxes, fees, salaries, expenses, etc., . 
Contingent surrender values, .... 



856,017 00 

135,395 44 

3,000 00 



Liabilities life department, 
Liabilities accident department, 



Total, 

Deduct liabilities on special deposits, 



- $194,412 44 

721,498 05 

17,520 82 

20,000 00 

9,474 00 

$42,278,975 54 
300,272 48 

$42,579,248 02 
. 4,413,167 61 



$38,166,080 41 
Surplus as regards policy holders, . . . $7,606,786 51 

Paid-up capital 1,750,000 00 

Surplus over capital, 5,856,786 51 



Gross liabilities, 



$45,772,866 92 



Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $596,167 70 
Premium notes received during 1898 (new poli- 
cies, $7,927.44; old policies, $26,359.87), . 34,287 31 

Total, 

Used in payment of losses and claims, . . $41,467 01 

in purchase of surrendered policies, . 9,054 29 

in payment of dividends to policy holders, 24,959 31 

Redeemed by maker in cash, .... 11,772 52 

Total, 

Balance note assets Dec. 31, 1898, 



$630,455 01 



87,253 13 



$543,201 88 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 34,222 $48,065,314 00 

Endowment, . . . 45,675 78,864,807 00 

All other, .... 10,449 23,731,777 00 

90,346 $150,661,898 00 

Policies issued during the Year, 

Whole life, . . . 2,473 $4,963,661 00 

Endowment, . . . 7,693 13,880,144 00 

All other, .... 1,382 2,931,050 00 

11,548 21,774,855 00 



.etna life insurance co. 



51 



Old Policies revived and changed. 



Number. 


Amount. 


Total No. 


Total Amount. 


4 


$30,776 00 






38 


132,857 00 






262 


556,495 00 










304 


$720,128 00 







Whole life, 
Endowment, 
All other, . 



Total, 102,198 $173,156,881 00 

Policies terminated during the Year. 
Whole life, . . . 1,815 $3,228,723 00 
Endowment, . . . 4,269 8,459,481 00 
All other, .... 1,787 4,075,745 00 







7,871 


$15,763,949 00 






How terminated. 


By death, . 




1,302 


$2,165,979 00 


maturity, 




857 


1,091,047 00 


expiry, . 




485 


1,100,450 00 


surrender, 




. 1,208 


2,079,570 00 


lapse, . 




, 2,219 


5,600,091 00 


change and 6 


ecrease, 


265 


632,312 00 


Not taken, . 


• 


1,535 


3,094,500 00 

7 K71 










Polk 


lies in Force Dec. 31, 1898. 


Whole life, 


. 


. 34,884 


$49,831,028 00 


Endowment, 


. . 


. 49,137 


84,418,327 00 


All other, . 


. 


10.306 


23,143,577 00 

94,327 



15,763,949 00 



157,392,932 00 



Schedule A. 
Securities held as Collateral. 



125 
52 

300 
25 
50 
63 

100 

100 
79 

100 
25 

100 

124 
1,480 



shares Hartford Fire Insurance Co., 

" JEtna Fire Insurance Co., 

" Willimantic Linen Co., 

" United States Bank, 

" Orient Fire Insurance Co., 

" JEtna Fire Insurance Co., 

" Plimpton Manufacturing Co 

11 iEtna Fire Insurance Co., 

" Travelers' Insurance Co., 

" Hartford Carpet Co., . 

" United States Bank, . 

" iEtna Indemnity Co., . 

" iEtna Fire Insurance Co., 

" Willimantic Linen Co., 
Bond and mortgage, .• 



Market Value. 

$65,000 00 ? 
14,300 00 S 
4,800 00^ 

I 



Loaned Thereon. 

$24,000 00 



8,750 00 



4,650 00 
17,325 00 J 
12,500 00 
27,500 00 
21,725 00 
7,000 00 ^ 
8,750 00 
10,000 00 
34,100 00 
47,360 00 
20,000 00 J 



y 24,000 00 



5,000 00 
16,000 00 



> 105,700 00 



52 



^ETNA LIFE INSURANCE CO. 



10 shares Travelers' Insurance Co., 
16 " iEtna Fire Insurance Co., 
20 " iEtna Indemnity Co., . 
40 " Travelers' Insurance Co., 
50 " Hartford Carpet Co., . 
144 " iEtna Fire Insurance Co., 
150 " United States Bank, . 
654 " Kellogg & Bulkeley Co., 
1,300 " Wheeler & Wilson Mfg. Co 
281 " Willimantic Linen Co., 
Bond and mortgage, . 
13 " JEtna Fire- Insurance Co., 
2 " Conn. River R.R. Co., . 
10 " Russell & Erwin Mfg. Co , 
2 " Collins Company, 
100 " Chic, Burl. & Quincy R.R. Co., 
12 " N. Y., N. H. & Hartford R R Co 
75 " J. B. Williams Co., 
20 " Chicago & No. Western R.R. Co 
25 " Chic, Mil. & St. Paul R.R. Co., 

Bond and mortgage, . 
96 " Travelers' Insurance Co., 
300 " Spring Brook Ice Co., . 
Bond and mortgage, . 
400 " Morris and Essex Railroad, 
200 " Pittsb., Fort Wayne & Chic. R.R 
358 " Hartford Street Railroad, . 
405 " Hartf . & N. Y. Transportation Co 
E. Hartf. & Glast'nb'y H. R.R. Co. bonds, 
4 shares iEtna Fire Insurance Co., . 
50 " Travelers' Insurance Co., . 
Birmingham City, Alabama, bonds, 



Schedule B. 
Stocks and Bonds owned by the 

235 shares Connecticut River Banking Co., . 

75 " Metropolitan Bank (New York), 

918 " Phoenix Nat'l Bank (Hartford), . 

400 " Mercantile Nat'l B'k (Hartford), 

448 " City National Bank (Hartford), . 

750 " Hartford Nat'l Bank (Hartford), 

773 " First National Bank (Hartford), 

1,552 " N'l Exchange B'k (Hartford), . 

1,632 " American Nat'l Bank (Hartford), 

377 " Farm. & Mech. N'l B'k (Hartf d), 

66 " Suffield National Bank, 



Market Value. 

$2,750 00 

4,400 00 

2,000 00 

11,000 00 

3,500 00 

39,600 00 

52,500 00 

22,890 00 

26,000 00 

4,496 00 

3,000 00 

3,575 00 

530 00 

500 00 

230 00 

12,500 00 

2,400 00 

52,500 00 

2,840 00 

4,150 00 

3,000 00 

26,400 00 

7,500 00 

6,000 00 

72,000 00 

35,000 00 

50,120 00 

10,125 00 

21,000 00 

1,100 00 

13,750 00 

18,750 00 



Loaned Thereon. 

$1,400 00 
12,200 00 



} 92,863 31 



} 



26,731 06 
2,000 00 

1.100 00 

6.101 77 
1,700 00 

42,000 00 

5,000 00 

3,000 00 
17,500 00 

6,000 00 
| 50,000 00 

i 70,000 00 

400 00 
12,000 00 
12 r 625 00 

$819,866 00 $537,321 14 



Company. 

Cost Value. 

$20,365 00 

5,212 50 

124,285 50 

8,285 25 

60,900 75 

107,720 25 

95,460 66 

93,729 80 

95,022 87 

83,664 25 

8,375 00 



Market Value. 

$8,225 00 

225 00 

119,340 00 

2,000 00 

49,280 00 

105,000 00 

92,760 00 

100,880 00 

122,400 00 

43,355 00 

9,900 00 



iETNA LIFE INSURANCE CO. 



53 



250 shares New Britain National Bank, 
836 " Charter Oak N'l B'k (Hartford) 
775 " ^tna National Bank (Hartford) 
240 " Hartford Trust Company, . 
97 " United States Bank (Hartford), 
200 " Rockville National Bank, . 
100 " Security Company (Hartford), 
100 " Home National Bank (Meriden) 
140 " Central Nat'l Bank (Peoria, 111.) 
368 " Connecticut River R.R., 
2,842 " N. Y., N. H. & Hartford R.R., 
320 " N. Y. Cent. & Hudson River R.R. 
380 " Union Pacific R.R., 
1,610 " Chicago, Bur. & Quincy R R., 
2,900 " Chic, Mil. & St. Paul R.R , . 
250 " Connecticut & Passumpsic R.R., 
880 " Chicago, R. I. & Pacific R.R., 
100 " Chicago & Northwestern R R., 
600 " Pennsylvania R.R., 
2,100 " Illinois Central R.R , . 
1,000 " Manhattan Elevated R.R., . 
200 " Hartford Street R.R., . 
116 " Delaware & Hudson Canal Co., 
239 " iEtna Fire Insurance Co., . 
991 " Travelers' Insurance Co., 
73 " Hartford Fire Insurance Co., 
2,500 " Western Union Telegraph Co., 
United States bonds, .... 

Columbus & Indianapolis R.R. bonds, 
Union Pacific R.R. bonds, .... 
Keokuk & Des Moines R.R. bonds, . 
Atlantic Dock bonds, .... 
Vermont Valley R.R. bonds, . 
Hartford & N. Y. Transportation Co. bonds, 
Chicago, Burlington & Quincy R.R. bonds, 
N. Y., New Haven & Hart. R.R. debentures, 
Terre Haute & Peoria bonds, . 
New York & New England R.R. bonds, 
Connecticut River R.R. bonds, . 
Springfield Street R.R. bonds, . 
Hartford Street R.R. bonds, 
Hartford & Manchester Street R.R. bonds, 
Conn. River Bridge & Highway Co. bonds, 
Middletown & Portland Bridge Co. bonds, 
Worcester & Suburban Street R.R. Co. bonds 
Governor's Foot Guard, Conn., bonds, 
Chicago & North Shore Street R R. bonds, 
Chicago, Milwaukee & St. Paul R R. bonds, 



Cost Value. 

$28,450 00 
97,572 25 
90,586 96 
25,065 00 
21,712 50 
20,000 00 
10,000 00 
13,375 00 
15,400 00 
39,372 25 

423,054 00 
37,500 00 
22,315 00 

144,450 00 

302,387 50 

25,250 00 

70,375 00 

9,000 00 

33,425 00 

206,175 00 

106,412 50 
28,700 00 
11,987 50 
61,150 68 

224,292 50 
37,345 00 

232,562 50 

1,636,395 28 

45,000 00 

128,750 00 
22,033 20 
25,000 00 

150,750 00 

12,000 00 

1,100 00 

631,288 75 
25,375 00 

309,118 75 
18,400 00 

100,000 00 

130,000 00 
11,000 00 
20,000 00 
13,500 00 
25,000 00 
10,000 00 
25,000 00 
25,000 00 



Market Value. 

$41,250 00 
79,420 00 

124,000 00 
36,000 00 
33,950 00 
22,000 00 
13,000 00 
13,500 00 
15,400 00 
97,520 00 

568,400 00 
39,360 00 
21,320 CO 

201,250 00 

394,000 00 
26,250 00 

100,320 00 
14,200 00 
36,600 00 

239,400 00 
98,000 00 
28,000 00 
12,412 00 
65,725 00 

272,525 00 
37,960 00 

232,500 00 

1,732,490 00 

51,000 00 

136,500 00 
17,510 00 
26,500 00 

159,000 00 

12,000 00 

1,100 00 

850,000 00 
20,000 00 

346,218 75 
19,320 00 

105,000 00 

133,900 00 
11,000 00 
20,000 00 
13,500 00 
26,250 00 
10,000 00 
26,250 00 
29,500 00 



54 



^tna life insurance co. 



N. Y. Central & Hudson River R.R. bond9, 

Chicago & Northwestern R.R. bonds, 

Illinois Central R.R. bonds, 

Adams Express Company bonds, 

Atchison, Topeka & Santa Fe R.R. bonds, 

Nebraska & Northwest'n Irrigation Co. bonds 

Arizona Improvement Co., bonds, 

Riverside Water Co., Cal , bonds, 

City of Brantford bonds, 

Province of Manitoba bonds, 

Virginia State bonds, 

Tennessee State bonds, 

Mobile city bonds, . 

Louisville city bonds, 

New Britain city bonds, 

Plattsmouth city bonds, 

London, Out., city bonds, 

New Boston city bonds, 

Jersey City bonds, . 

Ottawa city bonds, . 

Milwaukee city bonds, 

Cincinnati city bonds, 

St. Paul city bonds, . 

Webster city bonds, . 

Hull city bonds, 

Oxford city bonds, . 

Lincoln city bonds, . 

Hartland city bonds, . 

Wymore city bonds, . 

Audubon city bonds, 

Ness City bonds, 

Russell city bonds, . 

Montreal city bonds, 

Lincoln city bonds, . 

Coleman County bonds, 

Quebec city bonds, . 

Stratford city bonds, 

Toronto city bonds, . 

Win field city bonds, . 

Wichita city bonds, . 

Quebec government bonds, 

Cimarron city bonds, 

David city bonds, 

Ellsworth city bonds, 

Superior city bonds, . 

Seneca city bonds, . 

Burrton city bonds, . 

Lyons city bonds, 



Cost Value. 

$403,687 50 

152,812 50 

242,500 00 

85,337 50 

96,000 00 

41,000 00 

35,000 00 

225,000 00 

97,500 00 

149,893 34 

23,357 94 

25,100 00 

140,500 00 

89,750 00 

130,689 00 

23,000 00 

75,000 00 

2,000 00 

62,900 00 

133,000 00 

21,500 00 

100,000 00 

42,350 00 

15,000 00 

40,000 00 

9,800 00 

29,500 00 

10,000 00 

5,000 00 

5,000 00 

11,875 00 

3,000 00 

60,000 00 

11,880 00 

6,000 00 

40,000 00 

21,000 00 

498,317 00 

10,000 00 

46,000 00 

207,500 00 

10,000 00 

6,300 00 

37,260 00 

12,000 00 

9,500 00 

12,880 00 

32,200 00 



Market Value. 

$432,500 00 

154,500 00 

247,000 00 

89,250 00 

100,000 00 

10,850 00 

40,000 00 

237,500 00 

102,000 00 

169,400 00 

22,549 20 

23,845 00 

141,905 00 

118,000 00 

149,500 00 

23,460 00 

80,250 00 

2,000 00 

73,500 00 

150,290 00 

25,200 00 

120,000 00 

54,000 00 

15,750 00 

44,000 00 

10,000 00 

29,500 00 

7,500 00 

5,000 00 

5,000 00 

12,500 00 

3,000 00 

68,400 00 

12,000 00 

6,180 00 

42,100 00 

23,100 00 

527,310 00 

10,000 00 

50,000 00 

232,400 00 

3,500 00 

7,000 00 

32,400 00 

12,000 00 

10,000 00 

12,600 00 

28,000 00 



iETNA LIFE INSURANCE CO. 



55 



Canton city bonds, . 

Norton city bonds, . 

Kinsman city bonds, 

South Hutchinson city bonds, 

Loup City bonds, 

Conway Springs city bonds, 

Douglass city bonds, 

Coolidge city bonds, . 

Johnson city bonds, . 

Englevvood city bonds, 

Seward city bonds, . 

City of Alma bonds, . 

City of Orleans bonds, 

City of Hastings bonds, . 

Ford County bonds, . 

Mason & Tazewell County bonds, 

Edward County bonds, 

Ellsworth County bonds, . 

Lyon County bonds, . 

Pawnee County bonds, 

Harper County bonds, 

Stafford County bonds, 

Hunt drainage district bonds, 

Ulysses city bonds, . 

Seward County bonds, 

Hartford town bonds, 

Urbana town bonds, . 

Meade County bonds, 

Gray County bonds, . 

Nickerson city bonds, 

Lakin township bonds, 

Ironwood city bonds, 

Meade Center township bonds, 

Jackson town bonds, 

Coaticook town bonds, 

Lake Fork town bonds, 

Montrose County bonds, . 

Las Animas County bonds, 

Goodland city bonds, 

Pawnee city bonds, . 

Greenfield city bonds, 

Dalles city bonds, 

Anthony city bonds, . 

Harper city bonds, . 

Beatrice city bonds, . 

Goldendale city bonds, 

Tipton city bonds, 

Keithsburg town bonds, . 



Cost Value. 

$6,405 00 

16,400 00 

5,500 00 

3,500 00 

6,000 00 

13,000 00 

11,000 00 

9,700 00 

8,500 00 

4,000 00 

13,500 00 

8,122 50 

8,500 00 

54,000 00 

48,500 00 

22,000 00 

20,000 00 

15,000 00 

35,000 00 

23,000 00 

4,500 00 

5,000 00 

24,250 00 

9,500 00 

47,000 00 

71,600 00 

2,000 00 

23,000 00 

7,500 00 

9,500 00 

10,000 00 

5,000 00 

15,000 00 

9,900 00 

21,000 00 

7,000 00 

6,000 00 

29,300 00 

9,000 00 

3,000 00 

297 30 

37,500 00 

19,000 00 

19,000 00 

10,000 00 

12,500 00 

2,473 00 

11,000 00 



Market Value. 

$7,000 00 

17,000 00 

5,500 00 

3,500 00 

6,000 00 

13,000 00 

11,000 00 

7,760 00 

6,800 00 

3,200 00 

15,000 00 

9,000 00 

8,500 00 

60,000 00 

50,000 00 

22,660 00 

20,000 00 

11,250 00 

14,000 00 

23,000 00 

4,500 00 

5,000 00 

25,000 00 

3,500 00 

30,550 00 

79,000 00 

2,000 00 

14,950 00 

7,500 00 

8,550 00 

3,500 00 

5,250 00 

10,500 00 

10,000 00 

23,100 00 

7,350 00 

6,000 00 

30,765 00 

9,000 00 

3,000 00 

297 30 

41,250 00 

18,000 00 

18,000 00 

10,000 00 

12,500 00 

2,473 00 

11,550 00 



56 



iETNA LIFE INSURANCE CO. 



Ross town bonds, 
Levis town bonds, 
Highland town bonds, 
Rock Creek town bonds, . 
Sprague town bonds, 
Province of Quebec bonds, 
Mt. Forest town bonds, 
Pleasant town bonds, 
Hager Slough town bonds, 
Reeder town bonds, . 
Jefferson town bonds, 
Great Bend town bonds, . 
Coldwater town bonds, 
Wild Cat town bonds, 
Fond du Lac town bonds, . 
Neodesha town bonds, 
Baxter Springs town bonds, 
Monroe township bonds, . 
Morton township bonds, . 
Henderson town bonds, . 
Wilbarger County bonds, . 
Old Lyme town bonds, 
Klickitat County bonds, . 
East Windsor town bonds, 
Burlington town bonds, . 
Lockridge town bonds, 
Stranger town bonds, 
Washington town bonds, . 
Rolling Prairie town bonds, 
Hayes town bonds, . 
McFadden town bonds, 
Leroy town bonds, . 
Tonganoxie town bonds, . 
Eagle township bonds, 
Valley Center township bonds 
Richland township bonds, 
Victoria township bonds, . 
Liberty township bonds, . 
Burrton township bonds, . 
Green Garden township bonds 
Phillipsburg township bonds, 
Plum township bonds, 
Center township bonds, . 
Jefferson township bonds, 
Richland township bonds, 
Lincoln township bonds, . 
Elk Creek township bonds, 
Limestone township bonds, 



Cost Value. 

$9,120 00 
24,000 00 
10,000 00 
28,710 00 
40,133 33 
153,187 50 
20,000 00 
35,000 00 
1,000 00 
15,840 00 
6,000 00 
6,000 00 
10,000 00 
500 00 
5,000 00 
6,000 00 
20,500 00 
38,610 00 
8,550 00 
4,750 00 
19,000 00 
14,000 00 
16,000 00 
20,000 00 
9,000 00 
7,600 00 
9,600 00 
43,700 00 
18,000 00 
17,575 00 
9,500 00 
7,600 00 
19,200 00 
13,800 00 
9,200 00 
12,040 00 
20,240 00 
7,600 00 
23,920 00 
13,800 00 
9,150 00 
12,900 00 
41,860 00 
7,600 00 
12,352 50 
13,800 00 
7,600 00 
13,725 00 



Market Value. 

$9,576 00 
26,400 00 
10,000 00 
29,000 00 
42,000 00 
171,360 00 
22,000 00 
3,500 00 
1,050 00 
16,000 00 
6,000 00 
6,000 00 
8,500 00 
500 00 
50 00 
6,000 00 
20,500 00 
40,950 00 
9,000 00 
5,000 00 
19,950 00 
14,000 00 
16,800 00 
.20,000 00 
9,000 00 
8,000 00 
10,000 00 
50,400 00 
18,900 00 
19,000 00 
10,000 00 
8,000 00 
20,000 00 
15,000 00 
10,000 00 
14,700 00 
23,100 00 
8,400 00 
26,000 00 
15,000 00 
10,000 00 
15,000 00 
45,000 00 
8,000 00 
14,175 00 
15,000 00 
8,000 00 
15,000 00 



JETNA LIFE INSURANCE CO. 



57 



Ezbon township bonds, . 

Groveland township bonds, 

Banner township bonds, . 

Harrison township bonds, 

Valparaiso township bonds, 

Haynesville township bonds, 

Turkey Creek township bonds 

May township bonds, 

Pleasant Valley township bonds, 

Antelope township bonds, 

Little Blue township bonds, 

Alma township bonds, 

Township G bonds, . 

Franklin township bonds, 

Township M bonds, . 

Township L bonds, . 

Township B bonds, . 

Brown township bonds, . 

New York township bonds, 

Baker township bonds, 

Henderson township bonds, 

Thayer township bonds, . 

Stewart township bonds, . 

Union township bonds, 

Bone Creek township bonds, 

Read township bonds, 

Olive township bonds, 

Oak Creek township bonds, 

Stromburg village bonds, 

Village of Ord bonds, 

Bowen precinct bonds, 

Victor precinct bonds, 

Fairmont precinct bonds, . 

Lincoln precinct bonds, . 

Center precinct bonds, 

Twin Grove precinct bonds, 

Madison precinct bonds, . 

Harvard precinct bonds, . 

Nova precinct bonds, 

Geneva precinct bonds, . 

Exeter precinct bonds, 

Ainsworth precinct bonds, 

School District, Kansas, bonds, 

School District, Nebraska, bonds, 

School District, Kansas, bonds, 

School District, Nebraska, bonds, 

Gove County, Kan., School District bonds, 

Spring Creek precinct school bonds, 



Cost Value. 

$8,600 00 

13,760 00 

24,685 00 

18,000 00 

5,500 00 

17,100 00 

2,707 50 

4,061 25 

3,900 00 

3,512 50 

2,707 50 

5,866 25 

9,000 00 

6,300 00 

9,000 00 

4,500 00 

9,000 00 

5,400 00 

9,000 00 

9,000 00 

4,500 00 

4,500 00 

9,000 00 

5,400 00 

9,000 00 

9,000 00 

5,400 00 

5,400 00 

12,000 00 

4,000 00 

10,000 00 

15,000 00 

27,075 00 

1,800 00 

6,300 00 

9,000 00 

4,500 00 

16,500 00 

3,840 00 

13,500 00 

18,000 00 

8,000 00 

8,500 00 

6,000 00 

18,875 72 

10,300 00 

500 00 

5,760 00 



Market Value. 

$10,000 00 

16,000 00 

27,500 00 

20,000 00 

5,500 00 

19,000 00 

3,000 00 

4,500 00 

3,900 00 

4,000 00 

3,000 00 

6,500 00 

10,000 00 

7,000 00 

10,000 00 

5,000 00 

10,000 00 

6,000 00 

10,000 00 

10,000 00 

5,000 00 

5,000 00 

10,000 00 

6,000 00 

10,000 00 

10,000 00 

6,000 00 

6,000 00 

12,000 00 

4,000 00 

10,000 00 

15,000 00 

30,000 00 

2,000 00 

7,000 00 

10,000 00 

5,000 00 

19,000 00 

4,000 00 

15,000 00 

20,000 00 

8,000 00 

8,500 00 

6,000 00 

14,131 79 

10,300 00 

500 00 

6,000 00 



58 



^ETNA LIFE INSURANCE CO. 



Cedar Rapids school bonds, 
Ida Grove school bonds, . 
South Bend school bonds, 
Batavia school bonds, 
School District, Nebraska, bonds, 
School District, Kansas, bonds, 
Lebanon school bonds, 
Inlet Swamp drainage bonds, 
City of Victoria bonds, 
City of Ossawatoraie bonds, 
Hamilton County bonds, . 
City of Downs bonds, 
Beaver precinct bonds, 
Lincoln township bonds, . 
Jefferson precinct bonds, . 
City of Santa Fe bonds, . 
Fargo township bonds, 
Stanton County bonds, 
Toronto Junction town bonds, 
Haskell County bonds, 
Lane County bonds, . 
Vancouver city bonds, 
St. Hyacinthe city bonds, . 
Enterprise city bonds, 
Three Rivers city bonds, . 
Sault Ste. Marie city bonds, 
Springfield city bonds, 
Gregg County bonds, 
Lincoln precinct bonds, . 
Anthony township bonds, , 
Spring township bonds, . 
Grant township bonds, 
Sheriden township bonds, 
Ford township bonds, 
Valley township bonds, . 
Young America township bonds, 
Indian Grave drainage bonds, 
Nelson precinct bonds, 
Nichols precinct bonds, . 
North St. Paul village bonds, 
Atkinson village bonds, . 
Valentine village bonds, . 
Parkdale town bonds, 
City of St. Thomas bonds, 
Town of Windsor, Ontario, bonds, 
City of Kingston, Ontario, bonds, 
City of Bellville, Ontario, bonds, 
Superior city bonds, . 



Cost Value. 

$ 14,000 00 
7,500 00 
1,000 00 
10,000 00 
5,000 00 
2,000 00 
15,000 00 
500 00 
80,000 00 
20,000 00 
40,000 00 
29,100 00 
14,000 00 
3,300 00 
1,800 00 
4,500 00 
15,000 00 
11,700 00 
111,815 00 
10,000 00 
33,000 00 
225,000 00 
30,000 00 
10,000 00 
32,500 00 
20,000 00 
16,000 00 
30,000 00 
6,720 00 
2,850 00 
12,350 00 
12,255 00 
460 00 
14,700 00 
2,375 00 
16,500 00 
34,369 39 
22,000 00 
7,000 00 
22,000 00 
7,000 00 
8,400 00 
74,847 74 
114,045 14 
96,210 03 
49,763 99 
50,000 00 
25,000 00 



Market Value. 

$14,000 00 
7,500 00 
1,050 00 
10,500 00 
5,000 00 
2,000 00 
15,750 00 
500 00 
89,600 00 
20,000 00 
16,000 00 
30,000 00 
14,000 00 
4,000 00 
2,000 00 
4,500 00 
12,000 00 
12,000 00 
99,110 00 
10,000 00 
33,000 00 
258,750 00 
31,500 00 
10,000 00 
35,750 00 
21,600 00 
3,200 00 
31,500 00 
7,000 00 
3,000 00 
13,000 00 
12,900 00 
460 00 
15,000 00 
2,500 00 
17,325 00 
29,600 33 
22,000 00 
7,000 00 
19,800 00 
7,000 00 
8,400 00 
78,590 13 
120,887 84 
103,906 83 
53,745 11 
54,000 00 
25,000 00 



^ETNA LIFE INSURANCE CO. 



59 



Young America township bonds, 

New Pankey Pond drainage bonds, . 

Broeton drainage bonds, . 

Cote Sainte Antoine bonds, 

Town of Gault bonds, 

Province of New Brunswick bonds, 

City of St. John (N. B.) bonds, 

City of Hamilton (Prov. of Ont.) bonds, 

City of Halifax bonds, . . . 

City of Sherbrooke (Prov. of Quebec) bonds 

Roman Catholic school, Montreal, bonds, 

Protestant school, Montreal, bonds, 

Dickens County bonds, 

Lewis County bonds, 

Snohomish County bonds, 

Tarrant County bonds, 

Orange County bonds, 

Duval County bonds, 

Coke County bonds, . 

Roanoke city bonds, . 

Shellsburg school bonds, . 

Prince Edward Island bonds, 

Warren County bonds, 

Cass County bonds, . 

Grant County bonds, 

Clark County bonds, 

Stuart city bonds, 

Big Lake drainage bonds, 

Mason & Menard drainage bonds, 

Protestant Hospital for Insane bonds, 

Ainsworth precinct bonds 

Arizona Territory bonds, 

Karnes County bonds, 

Bexar County bonds, 

Fort Bend County bonds, 

Young County bonds, 

Peoria city bonds, 

Hartford city bonds, . 

Province of Quebec bonds, 

Van Zandt County bonds, 

Peoria city bonds, 

Beaver Pond draiuage bonds, 

City of Rockville bonds, . 

Hartford County bonds, . 

Cedar Rapids city warrants, 



Cost Value. 

$4,640 00 

1,500 00 

5,000 00 

98,250 00 

49,125 00 

66,000 00 

49,375 00 

34,074 21 

100,000 00 

72,750 00 

85,000 00 

200,687 60 

17,500 00 

25,750 00 

25,000 00 

50,210 00 

1,500 00 

2,600 00 

6,000 00 

10,500 00 

1,200 00 

97,250 00 

14,000 00 

4,000 00 

15,000 00 

3,000 00 

3,500 00 

41,000 00 

4,000 00 

74,000 00 

10,550 00 

130,000 00 

20,000 00 

162,160 00 

20,000 00 

24,500 00 

5,400 00 

2,000 00 

94,899 67 

13,000 00 

126,800 00 

7,000 00 

50,000 00 

141,000 00 

15,247 52 



Market Value. 

$4,872 00 

1,575 00 

5,250 00 

105,000 00 

52,500 00 

69,300 00 

51,500 00 

35,258 50 

108,000 00 

76,500 00 

88,400 00 

213,150 00 

18,375 00 

26,250 00 

26,250 00 

52,500 00 

1,575 00 

2,730 00 

6,300 00 

10,500 00 

1,200 00 

103,000 00 

14,700 00 

4,000 00 

15,750 00 

3,000 00 

3,675 00 

43,050 00 

4,200 00 

79,920 00 

10,000 00 

136,500 00 

20,600 00 

163,770 00 

20,600 00 

25,725 00 

5,670 00 

2,100 00 

108,000 00 

13,390 00 

133,140 00 

7,350 00 

52,500 00 

148,050 00 

15,247 52 



$15,369,030 87$16,605,85130 



60 



CONNECTICUT GENERAL LIFE INSURANCE CO. 



" CONNECTICUT GENERAL LIFE INSURANCE COMPANY," 

HARTFORD, CONN. 

[Incorporated Jane, 1865. Commenced business October, 1865.] 

Paid-up Capital, $150,000. 

Thomas W. Russell, President. Fred. V. Hudson, Secretary. 



Income. 
Received for premiums on new policies, . 
Received for renewal premiums, .... 
Dividends applied to pay running premiums, . 
Dividends applied to purchase paid-up insurance, . 
Surrender values applied to pay running premiums, 
Surrender values applied to purchase paid-up insurance, 



Total, 

Deduct amount paid for reinsurance, 



Total premium income, .... 

Received for interest, 

as discount on claims paid in advance, 
for rents of company's property, 
for reinsurance, 

Premium notes or loans restored, . 

Profit on securities sold, 

Profit and loss account, 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



$65,372 30 

353,716 12 

9,091 02 

3,380 64 

2,470 26 

16,142 59 

|450,172 93 

7,738 68 

$442,434 25 

148,190 25 

264 39 

7,016 49 

3,595 00 

32 86 

1,016 46 

9 12 

$602,588 82 
2,961,741 35 



Total $3,564,330 17 



Disbursements. 

Paid for losses 

Paid for matured endowments, .... 

Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Net amount paid for losses and endowments, 

Paid to annuitants, 

Premium notes or loans voided by lapse, 
Cash dividends paid policy holders, . 

applied to pay running premiums, 
applied to purchase paid-up insurance, 



$93,422 00 
30,800 00 

$124,222 00 
6,000 00 

$118,222 00 

75 12 

827 34 

36,957 81 

9,091 02 

3,380 64 



CONNECTICUT GENERAL LIFE INSURANCE CO. 



61 



Surrender values paid in cash, 

applied to pay running premiums, 
applied to purchase paid-up insurance, 

Total paid policy holders, 

Cash paid for dividends to stockholders, 

for commissions and bonuses to agents (new poli- 
cies, $30,661.83 ; renewals, $19,135.85), 

for salaries and allowances to managers and agents, 

for medical examiner's fees, 

for salaries of officers and home office employees, . 

for taxes on premiums, 

for taxes on reserves, $898.35 ; internal revenue, 
$1,140.54, 

for taxes on real estate, 

for fees, licenses, etc., 

for advertising, printing, postage, etc., . 

for legal expenses, 

for real estate expenses (except taxes), . 

for loss on sales of property, 

Profit and loss account, . 



$79,704 40 


2,470 


26 


16,142 59 


$266,871 


18 


12,000 00 


49,797 


68 


9,141 


18 


4,968 00 


24,225 06 


1,655 


89 


2,038 89 


4,858 


10 


3,379 


19 


16,707 


52 


283 00 


2,515 


12 


2,227 


53 


894 86 



Total disbursements, $401,563 20 



Balance, ' $3,162,766 97 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 

Premium notes or loans on policies in force, . 

Book value of stocks and bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 

Bills receivable, 

Agents' debit balances, 



Total, 

Deduct agents' credit balances, 

Total net or ledger assets, as per balance, 



$377,003 07 

1,871,575 42 

775 00 

152,419 35 

46,756 15 

517,702 05 

553 49 

194,538 07 

705 00 

1,106 05 

$3,163,133 65 
366 68 

$3,162,766 97 



Other Assets. 
Interest due, $14,861.80 ; accrued, $38,142.81, 
Market value of stocks and bonds over book, . 



53,004 61 
18,245 64 



62 CONNECTICUT GENERAL LITE INSURANCE CO. 



New Business. Renewals. 



Uncollected premiums on poli- 
cies in force, .... $8,041 93 $11,642 41 

Deferred premiums on policies 

in force, 16,014 34 62,232 19 



Total, 024,056 27 073,874 60 

Deduct loading, . . . 2,957 00 9,080 66 



Net amount of uncollected and 

deferred premiums, . . $21,099 27 064,793 94 



085,893" 21 



Total assets, per company's books, 03,319,910 43 

Items not admitted and Depreciation. 
Agents' debit balances, 01,106 05 



Bills receivable, .... 
Depreciation from cost of real estate, 
Total 



705 00 
63,616 89 



65,427 94 
. 03,254,482 49 



Total admitted assets, 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), .... 02,730,196 00 
Deduct net value of reinsured risks, 39,886 00 



Net reserve 02,690,310 00 

Matured endowments due and unpaid, . . 010,531 00 
Death losses in process of adjustment, . . 18,138 00 

Claims resisted by the company, . . . 3,000 00 

Total policy claims, 31,669 00 

Unpaid dividends of surplus due policy holders, . . . 1,345 20 

Premiums paid in advance, 3,680 22 

Contingent surrender values, 4,342 08 

Liabilities as to policy holders, 02,731,346 50 

Surplus as regards policy holders, . . . 0523,135 99 

Paid-up capital, 150,000 00 

Surplus over capital, 373,135 99 

Gross liabilities, 03,254,482 49 

Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . 044,662 46 

rec'd during 1898 (old policies), 9,153 66 

restored by revival of policies, 32 86 

Total 053,848 98 

Voided by lapse 0827 34 

Used in payment of dividends to policy holders, 632 26 

Redeemed by maker in cash, .... 5,633 23 

Total, 



Balance note assets Dec. 31, 1898, 



7,092 83 
046,756 15 



CONNECTICUT GENERAL LIFE INSURANCE CO. 



63 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 4,887 $7,076,691 00 
Endowment, . . . 4,396 5,179,297 00 
All other, .... 43 135,375 00 





Policies issued during the Year 


*J,U£i\J 


«l.*,a.7J.,UU«J w 


Whole life, 


. 1,109 $1,682,442 00 






Endowment, 


513 671,725 00 






All other, . 


19 44,000 00 


1,641 


2,398,167 00 








Old Policies revived. 






Whole life, 


17 $24,000 00 






Endowment, 


18 23,500 00 


35 


47,500 00 








Old Policies changed and increased. 




Whole life, 


14 $19,500 00 






Endowment, 


4 4,000 00 






All other, . 


2 3,000 00 


20 


26,500 00 










$14,863,530 00 




Policies terminated during the Tear. 




Whole life, 


666 $967,349 00 






Endowment, 


406 539,583 00 






All other, . 


11 32,000 00 








1,083 $1,538,932 00 






How terminated. 






By death, . 


76 $90,567 00 




\ 


maturity, 


25 30,800 00 






expiry, 


2 10,000 00 






surrender, 


332 483,565 00 






lapse, . 


387 523,500 00 






change and ( 


Jecrease, . 20 63,500'00 






Not taken, . 


241 337,000 00 


1,083 


1,538,932 00 



Whole life, 
Endowment, 
All other, . 



Policies in Force Dec. 31, 1898. 
. 5,361 f 7, 835,284 00 
. 4,525 5,338,939 00 
53 150,375 00 



9,939 13,324,598 00 



6-4 



CONNECTICUT GENERAL LIFE INSURANCE CO. 



Schedule A. 
Securities held as Collateral. 



Mortgage loan, 

10 shares National Bank of New England, 
Goodspeeds L'd'g, Conn., .... 



Market Value. Loaned Thereon. 

$500 00 |275 00 



700 00 



11,200 00 



500 00 



1775 00 



Schedule B. 

Stocks and Bonds owned by the 

233 shares N. Y., New Haven & Hart. R.R., 

100 

75 

40 
216 
104 

52 

70 
100 

20 ' 

12 

24 ' 

50 

86 ' 

50 ' 
100 ' 



Minneapolis & St. Louis R.R , 
Cleveland Terminal & Valley R.R. 
Fourth National Bank, N. Y., 
American National Bank, Hartford 
Phoenix National Bank, Hartford, 
Charter Oak N'l Bank, Hartford, 
Hartford National Bank, Hartford 
First National Bank, Hartford, 
iEtna National Bank, Hartford, 
Farmers 1 & Mech. N'l B'k, Hartford 
City National Bank, Hartford, 
Thames National Bank, Norwich, 
Conn Trust & Safe Deposit Co., 
Security Co., Hartford, . 
Northwestern Telegraph Co., 

Evansville, Ind., city bonds, 

Cleburne, Tex., city bonds, 

Oak Cliff, Tex., city bonds, 

San Antonio, Tex., city bonds, . 

Weatherford, Tex., city bonds, 

Fort Worth, Tex., city bonds, . 

Gainesville, Tex., city bonds, . 

Greenville, Tex , city bonds, 

Superior, Wis., city bonds, 

Norwich, Kan., city bonds, 

Huron, So Dakota, city bonds, 

Mecklenburg County, N. C, bonds, 

Henderson County, N. C, bonds, 

Franklin County, N. C, bonds, 

Douglas County, Ga., bonds, . 

Lyon County, Iowa, bonds, . 

Pawnee County, Kan., bonds, . 

Clallam County, Wash., bonds, 

Skagit County, Wash , bonds, . 



Company. 

Book Value. 

127,593 03 

8,818 75 

1,290 00 

4,193 00 

13,538 00 

15,853 00 

6,700 00 

10,625 00 

13,978 25 

2,373 50 

2,250 67 

2,790 00 

6,850 00 

8,428 00 

4,750 00 

5,200 00 

16,353 95 

7,070 00 

10,362 75 

11,050 00 

10,200 00 

4,950 00 

5,150 00 

5,175 00 

9,800 00 

1,575 00 

1,500 00 

10,610 00 

10,900 00 

10,972 50 

10,477 49 

5,000 00 

5,000 00 

5,000 00 

5,350 00 



Market Valae. 

$46,134 00 

9,900 00 

750 00 

7,200 00 

15,120 00 

12,480 00 

4,732 00 

9,520 00 

11,300 00 

2,900 00 

1,356 00 

2,568 00 

7,500 00 

14,190 00 

6,150 00 

5,600 00 

17,000 00 

8,050 00 

10,335 00 

11,300 00 

10,200 00 

5,000 00 

5,100 00 

5,650 00 

10,000 00 

1,695 00 

1,200 00 

11,300 00 

11,400 00 

10,972 50 

10,700 00 

2,500 00 

5,600 00 

5,100 00 

5,200 00 



THE CONNECTICUT MUTUAL LIFE INSURANCE CO. 



65 



Colbert County, Ala., bonds, . 
Silver Bow County, Montana, bonds, 
Oxford township, Kan., bonds, 
Winston township, N. C, bonds, 
Todd County, Minn., bonds, 
Colorado State warrants, . 
Arizona territorial bonds, 
Louisville & Nashville R.R. bonds, 
Seaboard & Roanoke R.R. bonds, 
Raleigh & Gaston R.R. bonds, . 
Cleveland Term'l & Valley R R. bonds, 
N. Y., N. H. & H. debenture certificates, 
Pekin & La Marsh, Illinois, bonds, 
Mason & Tazewell, Illinois, bonds, 
Wildcat, Champaign County, Illinois, bonds, 
Lima Lake, Illinois, bonds, 
Indian Grave, Illinois, bonds, . 
Big Lake, Illinois, bonds, . 
Clay County, Minn., bonds, 
Southwestern Irrigation Co. bonds, 
Garden City Irrigation Co. bonds, 
Arizona Improvement Co. bonds, 
Arizona Canal Co. bonds, 
Denver Union Water Co. bonds, 
Anderson, Indiana, Elec. St. Railway bonds, 



Book Value. 

$5,362 50 

10,250 00 

5,000 00 

16,220 00 

1,600 00 

14,402 16 

15,000 00 

10,650 00 

20,700 00 

10,600 00 

5,000 00 

9,454 00 

5,075 00 

5,346 50 

15,375 00 

13,000 00 

5,044 00 

9,270 00 

11,375 00 

5,000 00 

5,500 00 

5,750 00 

12,000 00 

14,000 00 

5,000 00 



Market Value. 

$5,700 00 

10,000 00 

5,000 00 

16,750 00 

1,632 00 

14,153 19 

15,750 00 

11,050 00 

21,200 00 

10,600 00 

4,450 00 

15,980 00 

5,100 00 

5,100 00 

15,300 00 

14,040 00 

5,200 00 

9,540 00 

12,500 00 

2,500 00 

2,500 00 

2,500 00 

5,000 00 

13,800 00 

5,000 00 



$517,702 05 $535,947 69 



"THE CONNECTICUT MUTUAL LIFE INSURANCE COMPANY," 

HARTFORD, CONN. 

[Incorporated June 15, 1846. Commenced business Dec 

Jacob L. Greene, President. Herbert H 

Income. 
Received for premiums on new policies, . 

Received for renewal premiums, 

Dividends applied to pay running premiums, . 
Surrender values applied to pay running premiums, 
Surrender values applied to purchase paid-up insurance and 

annuities, 117,498 13 

Received for annuities, 1,370 00 



Total premium income, . . 
Received for interest, .... 
Received for rents of company's property, 
Premium notes or loans restored, 



Total income, . . ... 
Net or ledger assets Dec. 31, 1897, . 

Total, 



15, 1846.] 

White, Secretary. 



$339,300 44 

3,210,474 20 

1,077,070 64 

22,517 07 



$4,768,230 48 

2,760,260 07 

309,987 59 

668 00 



$7,839,146 14 
61,408,550 38 

$69,247,696 52 



66 



THE CONNECTICUT MUTUAL LIFE INSURANCE CO. 



Disbursements. 

Paid for losses, 

Paid for matured endowments, 

Gross amount paid for losses and endowments 

Paid to annuitants, 

Premium notes or loans voided by lapse, 

Cash dividends paid policy holders, . 

Cash dividends applied to pay running premiums, 

Surrender values paid in cash, .... 

applied to pay running premiums, 
applied to purchase paid-up insurance and 
annuities, 

Total paid policy holders, 

Cash paid for commissions and bonuses to agents (new poli 

cies, $ 91,391.52 ; renewals, $269,113.19), . 
for salaries and allowances to managers and agents 
for medical examiner's fees, . . . 
for salaries of officers and home office employees, 
for taxes on new premiums, $3,018.03 ; on renew 

als, $27,162.29, 

for taxes on franchise, $151,281.03 ; on reserves 

$11,093.77; internal revenue, $5,745.41, 
for taxes on real estate, . 
for fees, licenses, etc., 

for rent, 

for advertising, printing and postage, 
for legal expenses, .... 
for real estate expenses (except taxes), 
for loss on sales of property, . 
for incidentals, 



Total disbursements, . 



Balance, 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgages of real estate (first liens), 
Loans on collateral security (schedule A), 
Premium notes or loans on policies in force, . 
Cost value of stocks and bonds owned (schedule B), 

Cash deposited in bank, 

Bills receivable, 



Total 

Deduct agents' credit balances, 



Total net or ledger assets, as per balance, 



$3,983,541 44 
299,799 00 



$4,283,340 44 

25 00 

2,124 00 

195,623 14 

1,077,070 64 

514,569 35 

22,517 07 

117,498 13 



$6,212,767 77 

360,504 71 
23,999 83 
21,475 45 

151,699 98 

30,180 32 

168,120 21 

177,648 62 

8,035 10 

7,037 00 

75,821 80 

19,386 88 

141,859 01 

1,683 02 

40,409 29 



$7,440,628 99 
$61,807,067 53 



$10,977,642 71 

28,900,189 39 

2,300 00 

904,622 19 

19,339,107 78 

1,688,745 26 

5,367 79 



$61,817,975 12 
10,907 59 

$61,807,067 53 



THE CONNECTICUT MUTUAL LIFE INSURANCE CO. 67 



Other Assets. 

Interest due, $219,458.27 ; accrued, $749,24-4.36, . . . $968,702 63 
Rents due, $5,299.29; accrued, $7,272.98, .... 12,57227 
Market value of stocks and bonds over cost, .... 1,065,955 64 

New Business. Renewals. 

Uncollected premiums on poli- 
cies in force $19,615 37 $78,357 69 

Deferred premiums on policies 
in force, 30,824 38 288,023 80 



Total, $50,439 75 $366,381 49 

Deduct loading (20 per cent.),. 10,087 95 73,276 30 

Net amount of uncollected and 

deferred premiums, . . $40,351 80 $293,105 19 



333,456 99 



Total assets, per company's books, .... $64,187,755 06 

Items not admitted. 
Bills receivable, 5,367 79 



Total admitted assets, $64,182,387 27 

Deduct special deposits in other States, . . . . . 111,500 00 



Balance, . $64,070,887 27 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent ), . . . $53,534,354 00 

Additional reserve, 1,822,059 00 

Death losses due and unpaid, .... $28,198 50 
Matured endowments due and unpaid, . . 9,372 00 

Death losses in process of adjustment, . . 149,319 00 
Claims resisted by the company, . . . 40,392 00 

Total policy claims, 227,281 50 

Unpaid dividends of surplus due policy holders, . . . 782,437 17 

Premiums paid in advance, 34,854 53 

Contingent surrender values, 241,360 00 

Special reserve for term and annuities, . . . . . 18,098 00 



Liabilities as to policy holders, $56,660,444 20 

Deduct liabilities on special deposits, 111,500 00 

$56,548,944 20 
Surplus as regards policy holders, 7,521,943 07 

Gross liabilities, $64,070,887 27 



68 



THE CONNECTICUT MUTUAL LIFE INSURANCE CO. 



Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $983,315 72 

Premium notes restored by revival of policies, 668 00 

Total $983,983 72 

Used in payment of losses and claims, . . $21,277 37 

Used in purchase of surrendered policies, . 9,320 43 

Voided by lapse, 2,124 00 

Used in payment of dividends to policy holders, 35,31 1 86 

Redeemed by maker in cash, .... 11,327 87 

Total 79,36153 

Balance note assets Dec. 31, 1898, $904,622 19 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 60,260 $143,581,793 00 
Endowment, . . . 5,962 12,610,694 00 
All other, .... 483 1,508,900 00 

66,705 $157,701,387 00 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 
. 2,988 $7,864,693 00 
506 1,133,972 00 
194 504,050 00 



3,688 9,502,715 00 



Whole life, 
Endowment, 



Old Policies revived. 

18 $42,700 00 

2 2,000 00 



20 



44,700 00 



Whole life, 
Endowment, 
All other, . 



Old Policies changed and increased. 

$107,809 00 

18,025 00 

3 5,000 00 



130,834 00 



Total, 70,416 $167,379,636 00 



Policies terminated during the Year. 

Whole life, . . . 3,008 $7,983,253 00 
Endowment, ... 391 827,433 00 

All other, .... 155 490,100 00 



• 3,554 $9,300,786 00 



THE CONNECTICUT MUTUAL LIFE INSURANCE CO. 



69 



How terminated. 







Number. 


Amount. 


Total No. 


Total Amount. 


By death, . 


• « 


1,532 


$3,883,263 00 






maturity, 


. 


163 


298,434 00 






surrender, . 


. 


822 


1,696,400 00 






lapse, . 


. 


841 


1,937,050 00 






change and decrease, 


3 


990,139 00 






Not taken, . 


• 


193 


495,500 00 


3,554 


$9,300,786 00 



Whole life, 
Endowment, 
All other, . 



Policies in Force Dec. 31, 1898. 

. 60,258 $143,613,742 00 

. 6,079 12,937,258 00 

525 1,527,850 00 



66,862 158,078,850 00 



Schedule A. 
Securities held as Collateral. 



17 shares N. Y., N. H. & Hartford R.R. Co., 



Market Value. Loaned Thereon. 

$3,400 00 $ 2,300 00 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost Value. Market Value. 

130 shares First National Bank, Hartford, . $13,000 00 $14,300 00 

25 " iEtna National Bank, Hartford, . 2,500 00 3,625 00 

294 " Phoenix National Bank, Hartford, 40,710 25 35,280 00 

10 " Charter Oak Nl Bank, Hartford, 1,055 00 900 00 

80 " City Bank, Hartford, . . . 8,000 00 8,400 00 

40 " State Bank, Hartford, . . . 4,195 00 4,280 00 

300 " Ct. Trust & Safe Dep't Co., Hart'd, 30,000 00 49,500 00 

400 " N. Y., N. H. & Hartford R.R., . 40,493 75 80,000 00 

2,000 " Conn. & Passumpsic Rivers R R., 200,000 00 200,000 00 

500 " Massawippi Valley R.R., . . 50,000 00 50,000 00 

835 " Detroit, G'd Rapids & West. R.R., 83,500 00 31,730 00 

Detroit, Grand Rapids & West. R.R. scrip, . 50 16 19 06 

State of Tennessee bonds, .... 198,450 00 206,048 00 

City of Jackson, Mich., bonds, .... 18,000 00 20,000 00 

City of Louisville, Ky., bonds, .... 125,339 06 145,260 00 

City of Mobile, Ala., bonds, .... 87,500 00 87,500 00 

City of Milwaukee, Wis , bonds, . . . 97,500 00 110,870 00 

City of Quincy, 111., bonds 115,521 22 115,000 00 

City of Galveston, Texas, bonds, . . . 100,000 00 100,000 00 

City of Austin, Texas, bonds, .... 39,000 00 40,000 00 

City of Montreal bonds, 100,031 25 100,000 00 

City of Muncie, Ind., bonds, .... 15,468 75 15,000 00 



70 



THE CONNECTICUT MUTUAL LIFE INSURANCE CO. 



City of Omaha bonds, 

City of San Antonio, Texas, bonds, 

City of Duluth, Minn., bonds, . 

City of St. Paul, Minn., bonds, 

City of Pueblo, Colo., bonds, . 

City of Seattle, Washington, bonds, 

County of Leavenworth, Kan., bonds, 

County of Hancock, Ohio, bonds, 

County of Wyandotte, Kan., bonds, . 

Province of Quebec bonds, 

Brooklyn Wharf and Warehouse Co. bonds, 

Long Dock Company bonds, 

Clev., Cin., Chicago & St. Louis R.R. bonds, 

Chesapeake & Ohio R.R. bonds, 

Chicago, Burlington & Quincy R.R. bonds, 

Chicago, St. Louis & New Orleans R.R. bonds 

Chicago & Western Indiana R R. bonds, . 

Chic, Mil. & St. Paul R.R. bonds, . 

Chicago & Erie R.R. bonds, 

Chic, Rock Island & Pac R.R. bonds, 

Central Union Depot & R'y Co , Cin., bonds, 

Dayton & Michigan R.R. bonds, 

Detroit, Grand Rapids & West'n R.R. bonds, 

Easton & Amboy R.R. bonds, . 

Erie R R. bonds, 

Harlem River & Port Chester R.R. bonds, 

Illinois Central R.R. bonds, 

Lehigh Valley R.R. bonds, 

Manhattan Railway Company bonds, 

Michigan Central R.R. bonds, . 

New York & Greenwood Lake R'y Co. bonds 

N. Y., Lake Erie & Western R.R. bonds, . 

N. Y., N. H. & Hartford R.R. bonds, 

Northern Pacific R R. bonds, . 

Norfolk Terminal & Transportation Co. bonds 

Philadelphia & Reading R.R. bonds, 

Port Reading R.R. bonds, .... 

St. Louis Cable & Western R.R. bonds, . 

St. Paul & Northern Pacific R.R. bonds, . 

St. Joseph Terminal R.R. bonds, 

Terminal Railway Assoc'n of St. Louis bonds 

Union Pacific R.R. bonds, .... 

Utah Northern R.R. bonds, 

Vermont Valley R.R. bonds, . 

Wabash R.R. bonds, 

West Jersey & Sea Shore R.R. bonds, 



Cost Value. 

$160,825 00 

31,800 00 

133,125 00 

132,370 00 

79,312 50 

206,000 00 

99,580 00 

63,485 94 

86,437 50 

15,468 75 

613,975 00 

391,607 50 

652,986 43 

1,198,659 66 

124,233 05 

776,562 50 

1,210,376 92 

320,712 08 

543,946 39 

513,861 11 

250,000 00 

210,575 00 

82,972 00 

352,695 00 

589,414 61 

450,000 00 

495,500 00 

1,567,735 17 

693,750 00 

526,193 75 

306,000 00 

198,574 42 

15,817 25 

702,276 31 

104,625 00 

1,228,875 00 

253,300 00 

107,325 00 

374,002 50 

350,000 00 

336,250 00 

556,597 77 

303,750 00 

301,500 00 

153,739 23 

102,000 00 



Market Value. 

$162,850 00 

33,600 00 

137,500 00 

142,600 00 

80,812 50 

200,000 00 

100,000 00 

62,000 00 

75,000 00 

15,000 00 

546,000 00 

443,360 00 

697,500 00 

1,228,000 00 
116,600 00 
933,750 00 

1,227,427 50 
358,545 00 
555,000 00 
520,000 00 
250,000 00 
224,475 00 
74,665 36 
347,225 00 
594,750 00 
468,000 00 
507,500 00 

1,668,900 00 
708,750 00 
603,750 00 
321,000 00 
218,937 50 
27,176 00 
839,437 50 
105,000 00 

1,387,500 00 
242,050 00 
109,890 00 
423,130 00 
350,000 00 
385,000 00 
618,000 00 
293,750 00 
324,000 00 
157,920 00 
101,000 00 



$19,339,107 78120,405,063 42 



THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. S. 71 



"THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE UNITED 
STATES," NEW YORK, N. Y. 

[Incorporated July 26, 1859. Commenced business July 28, 1859.] 

Paid-up Capital, $100,000. 

Henry B. Hyde, President. William Alexander, Secretary. 

Income. 

Received for premiums on new policies, $4,486,654 42 

Received for renewal premiums, 31,460,802 91 

Dividends applied to purchase paid-up additions and annuities, 683,927 15 
Surrender values applied to purchase paid-up insurance and 

annuities, 1,955,172 00 

785,868 28 

$39,372,424 76 
1,003 17 

$39,371,421 59 

. 8,526,920 82 

. 1,963,640 05 

387,304 32 

$50,249,286 78 
224,108,988 06 



Received for annuities, 



Total, 

Deduct amount paid for reinsurance, 



Total premium income, 
Received for interest, .... 
Received for rents of company's property, 
Profit and loss account, .... 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



Total, 



Disbursements 
Paid for losses and additions, . 

for matured endowments and additions, 
on matured instalment policies, 

Gross amount paid for losses and endowments 
Paid to annuitants, .*.►., 
Cash dividends paid policy holders, 
Cash dividends applied to purchase paid-up 

annuities, 

Surrender values paid in cash, . 

Surrender values applied to purchase paid-up 

annuities, ...... 



additions and 



insurance 



$274,358,274 84 



$12,952,129 94 
1,319,522 25 
30,344 82 



and 



Total paid policy holders, 
Cash paid for dividends to stockholders, . 

for commissions and bonuses to agents (new poli 

cies, $2,253,447.96; renewals, $1,997,349.46), 
for salaries and allowances to managers and agents 
for medical examiner's fees and inspections, . 



$14,301,997 01 
567,905 38 
2,375,817 71 



683,927 15 
4,135,704 17 

1,955,172 00 



$24,020,523 42 
7,000 00 

4,250,797 42 
334,863 83 
345,276 05 



72 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. S. 



Cash paid for salaries of officers and home office employees, 

for taxes on premiums, 

for taxes on reserves, $12,581.22; internal rev- 
enue, etc., $38,852.41 

for taxes on real estate, .... 
for fees, licenses, etc., .... 

for rent, 

for commuting commissions, . . . 
for advertising, printing, postage, etc., . 

for legal expenses, 

for real estate expenses (except taxes), 
for incidentals, 



Total disbursements, . 
Balance, 



$684,256 63 
214,083 95 



51,433 63 
280,703 44 

33,497 95 
355,257 81 
773,279 35 
462,287 77 
202,320 19 
493,523 72 
244,847 07 

$32,753,952 23 

$241,604,322 61 



Invested in the folio wins:: 



Assets as per Ledger Accounts 

Book value of real estate, .... 
Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral 
Book value of stocks and bonds owned (schedule B), 
Cash in company's office, 

deposited in bank, 

in trust companies, 
Agents' balances, 
Commuted commissions, 

Total, . 



$40,410,333 64 

. 34,724,277 55 

. 11,431,535 55 

6,988 00 

133,930,675 27 

7,710 74 

. 9,049,026 81 

. 11,464,988 55 

252,786 50 

326,000 00 

$241,604,322 61 



Other Assets. 

Interest due, $58,037.73; accrued, $2,222,940.23, . . . 2,280,977 96 

Rents due, $121,609.10; accrued, $69,389.14,. . . . 190,998 24 

Market value of stocks and bonds over book, .... 9,556,105 73 



New Business. 



Renewals. 



Uncollected premiums on poli- 
cies in force $1,139,720 00 $2,203,359 00 

Deferred premiums on policies 

in force, .... 182,662 00 2,226,053 00 



Total $1,322,382 00 $4,429,412 00 

Deduct loading (20 per cent.),. 264,476 40 885,882 40 

Net amount of uncollected and 

deferred premiums, . . $1,057,905 60 $3,543,529 60 



4,601,435 20 



Total assets, per company's books, . 



$258,233,839 74 



THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. S. 73 



Items not admitted. 



Commuted commissions, . 
Agents' balances, 
Total,. 



Total admitted assets, 
Deduct special deposits in other States, . 



Balance, 



$326,000 00 
252,786 50 



8578,786 50 



$257,655,053 24 
. 16,271,555 00 

$241,383,498 24 



Liabilities. 
Computed premium reserve or net present value of all out- 



standing policies (actuaries' 4 per cent.), 
Present value of unpaid instalments, 
Death losses due and unpaid, . 
Matured endowments due and unpaid, 
Death losses in process of adjustment, 
Claims resisted by the company, 
Due and unpaid on annuity claims, . 

Total policy claims, . 
Unpaid dividends of surplus due policy holders, 

Liabilities as to policy holders, 
Deduct liabilities on special deposits, 



$198,341,877 00 
231,609 00 



$297,357 10 
111,582 07 

1,312,689 79 
70,125 00 
37,513 31 



1,829,267 27 
99,674 00 



$200,502,427 27 
\ 16,093,695 00 



Surplus as regards policy holders, 
Paid-up capital, 
Surplus over capital, 



$184,408,732 27 
. $56,974,765 97 

100,000 00 
. 56,874,765 97 



Gross liabilities, 



$241,383,498 24 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

. 253,241 $772,937,149 00 

. 52,508 165,634,576 00 

. 3,841 6,150,015 00 

6,444,097 00 

309,590 $951,165,837 00 



Whole life, 
Endowment, 
All other, 



Policies issued during the Tear. 

. 37,918 $122,080,920 00 
. 12,404 35,434,663 00 
. 1,189 5,031,990 00 
51,511 



162,547,573 00 



74 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. S. 



Whole life, 
Endowment, 
All other, . 

Additions by dividends, 
Total, 



Old Policies revived. 

Number. Amount. Total No. Total Amount. 

943 83,477,516 00 

260 897,766 00 

8 12,700 00 
1,211 $4,387,982 00 

- 1,108,184 00 



362,312 $1,119,209,576 00 



Policies terminated during the Year. 
Whole life, . . . 30,505 $104,621,464 00 
Endowment, . . . 7,323 24,018,755 00 
All other, .... 709 3,412,223 00 





38,537 


$132,052,442 00 




How terminated. 


By death, . 


. 3,628 


$13,093,844 00 


maturity, . 


353 


1,310,752 00 


expiry, 


191 


647,315 00 


surrender, . 


. 9,424 


32,232,127 00 


lapse, . 


. 15,460 


41,477,594 00 


change and de< 


urease, ■ ~ 


902,539 00 


Not taken, 


. 9,481 


42,388,241 00 



38,537 132,052,442 00 



Policies in Force Dec. 31, 1898. 

Whole life, . . .261,597 $793,874,12100 
Endowment, . , . 57,849 177,948,250 00 
All other, .... 4,329 8,936,672 00 
Reversionary additions, . - 6,398,091 00 

323,775 



987,157,134 00 



Schedule A. 
Securities held as Collateral. 



400 shares Pitts., Fort Wayne & Chic. R.R., 
300 " Rensselaer & Saratoga R.R., 
Atchison adjustment bonds, 
1,000 shares Great Northern R.R., . 
1,000 " Erie & Western R.R., . 
3,000 " Northern Pacific R.R., . 

700 " Passaic & Delaware Ext. R.R., 
1,000 " Missouri Pacific Railway Co., 

500 " Metropolitan Street Railway Co 
Pittsburg, Cleveland & Toledo R.R. bonds, 
Union Stock Yard bonds, .... 



Market Value. 

$70,000 00 



Loaned Thereon. 



55,500 00 [ * 100 ' 000 00 
47,400 00 >| 



140,500 00 
74,000 00 

165,500 00 
70,000 00 
45,500 00 
95,500 00 

315,000 00 

150,000 00 



500,000 00 



325,000 00 



THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. S. 75 



Texas & New Orleans R.R. bonds, . 
Southern Pacific R.R. bonds, 
Detroit City Gas bonds, . 
600 shares Wells, Fargo & Co., 
500 " Pacific Mail Steamship Co., 
Houston & Texas R.R. bonds, . 
National Bank of Denver bonds, 
United Elec. L. & Power Co. bonds, 
Baltimore, Chesapeake & Atlantic R'y bonds, 
50 shares Mercantile Trust Co., . 
100 " Wheeling & Lake Erie R.R , 
3,000 " Coney Island & Brooklyn R.R., 

United States bonds, 

400 shares Delaware & Hudson Canal Co., 

Westinghouse Elec. & Manuf'g Co. bonds, 

Niagara Falls & Lewiston R.R. bonds, 

Union Pacific, Denver & Gulf R.R. bonds, 

Oregon Short Line R.R. bonds, 

Nashville, Chattanooga & St. L. R R. bonds, 

Lexington Ave. & Pavonia Ferry R.R. bonds, 

Northern Pacific R.R. bonds, . 

5,000 shares Baltimore & Ohio R.R., 

1,100 " Great Northern R.R., . 

St. Louis & Iron Mountain R.R. bonds, 

100 shares Fifth Avenue Trust Co., . 

New York city bonds, 

Westinghouse Electric & Mfg. Co. stock, 

Galveston, Harrisb'gh & San Antonio bonds, 

Texas & New Orleans R.R. bonds, . 

Illinois Central R R bonds, 

Southern Pacific of Arizona R R. bonds, 

Austin & Northwest R.R. bonds, 

1,000 shares Wells, Fargo & Co. stock, 

Baltimore & Ohio certificates, . 

Central of Georgia R.R. bonds, 

Erie R.R. bonds, .... 

Wabash R R. bonds, .... 

Susquehanna & Western R.R. bonds, 

Missouri, Kansas & Eastern R.R. bonds, 

Northern Pacific R.R. bonds, . 

Pittsburgh & Western R.R. bonds, . 

Chesapeake & Ohio R.R. bonds, 

500 shares Atchison R.R., 



400 
400 
300 
100 
200 
500 



Wabash R.R 

Union Pacific R.R., . 

St. Joseph & Grand Island R.R., 

Chesapeake & Ohio R.R., 

Atchison R.R , . 

People's Gas Co., . 



Market Value. 

$51,500 00 

55,500 00 

63,700 00 

78,600 00 

22,750 00 

86,000 00 

312,500 00 

540,000 00 

868,600 00 

23,750 00 

2,700 00 

750,000 00 

56,437 00 

42,400 00 

158,875 00 

921,500 00 

174,000 00 

106,250 00 

85,200 00 

84,490 00 

222,425 00 

890,000 00 

154,550 00 

243,800 00 

34,000 00 

300,000 00 

157,187 00 

52,000 00 

77,250 00 

52,500 00 

55,500 00 

22,500 00 

131,000 00 

2,050,000 00 

9,200 00 

65,800 00 

3,500 00 

19,000 00 

6,060 00 

3,450 00 

2,985 00 

4,550 00 

25,750 00 

9,000 00 

29,400 00 

15,000 00 

2,500 00 

3,800 00 

54,875 00 



Loaned Thereon. 



[ $250,000 00 



250,000 00 

525,000 00 

724,000 00 

I 9,800 00 

I 707,000 00 



760,000 00 



> 1,000,000 00 



165,000 00 

20,000 00 

185,735 55 

100,000 00 



)> 250,000 00 



1,650,000 00 



)> 200,000 00 



76 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. S. 



Central Ohio R.R. bonds, . ' 

900 shares Baltimore & Ohio R.R. . 

Columbus & Cincinnati Midland R.R. bonds, 

Cleveland Terminal & Valley R.R. bonds, 

1,000 shares Baltimore & Ohio R.R., 

2,000 " Union Pacific R R , 

1,000 " Manhattan Elevated R.R., 

1,000 " Great Northern R.R., . 

2,600 " Northern Pacific R.R., . 

1,000 " Tennessee Coal & Iron R.R. 

United States Illuminating Co. bonds, 

Missouri Pacific R.R. bonds, 

Iron Mountain land grant bonds, 

Buffalo, New York & Erie R.R. bonds, 

Morris & Essex R.R. bonds, 

Syracuse, Binghamton & N. Y. R R. bonds 

Cinn., Ind. & St. Louis R.R. bonds, . 

500 shares American Surety Co., 

200 " Chic , Rock Island & Pac. R R , 

100 " Clev., Cinn., Chic. & St. Louis R.R. 

300 " Western National Bank, . 

Erie R R. bonds, 

Colorado Midland R R bonds, . 

New York Central R.R. bonds, 

Manhattan Elevated R.R. bonds, 

United Elec Light & Power Co. bonds, . 

Atchison R.R. bonds, .... 

Northern Pacific R.R. bonds, . 

Mercantile Trust Go's receipt for securities, 

Pittsburgh & Connellsville R.R. bonds, . 

Baltimore & Ohio certificates, . 

Union Pacific R.R. bonds, 

Northwest R.R. bonds, .... 

Columbus & Ninth Ave. R.R. bonds, 

Southern Pacific R.R. bonds, . 

Scioto Valley & New England R.R. bonds, 

Illinois Central R R. bonds, 

Iron Mountain R.R. bonds, 

Pennsylvania R.R. certificates, . 

Union Pacific R.R. bonds, .... 

2,020 shares St. Paul, Minn. & Manitoba R.R., 



Schedule B. 



} 500,000 00 



> 600,000 00 



Market Value. Loaned Thereon. 

123,520 00" 

2JSS h" " 000 

72,450 00, 

78,000 00^ 
147,000 00 

97,500 00 
140,500 00 
134,500 00 

37,000 00 J 

66,600 OO'j 

26,700 00 

36,663 00 

27,000 00 

10,500 00 

12,600 00 

10,200 00 

91,000 00 

22,750 00 
9,500 00 

48,000 00 

12,040 00 

14,400 00 

11,640 00 

30,720 00 
166,500 00 
131,350 00 

79,578 00 J 
480,000 00 
267,500 00 >i 
274,050 00 
214,760 00 
438,600 00 

94,770 00 
194,250 00 
110,580 00 

81,175 00 

43,200 00 
300,000 00 

87,000 00 
351,480 00 >* 

(14,520,910 00 811,431,535 55 



400,000 00 



> 2,000,000 00 



Stocks and Bonds owned by the Company. 

Book Value. Market Value. 

5,100 shares Pennsylvania R.R., . . . $271,41100 $304,088 00 

13,800 " Clev., Cin., Chic. & St. Louis R.R., 1,342,854 00 1,293,750 00 



THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. S. 77 



14,000 shares Missouri Pacific R.R., . 

4,400 " Illinois Central R.R., . 
11,100 " Baltimore & Ohio R.R., 

1,100 " Rome, Water'n & Ogdens. R.R. 
16,600 " Delaware & Hudson Canal, 

2,450 " Oregon R.R. & Navigation Co , 

4,489 " ErieR.R., .... 

1,500 " Pitts., Ft. Wayne & Chic. R.R., 
10,000 " Manhattan R.R., . 

2,500 " N. Y., N. H. & Hartford R.R., 
13,268 " Mercantile Trust Co , 

5,100 " Western Union Telegraph Co., 
10,957 T 6 5 " Western National Bank, . 

1,000 " Fifth Avenue Trust Co., . 
695 " Park Bank, .... 

5,000 " Westinghouse Elec. & Mfg. Co. 

2,000 " Consolidated Gas Co., 
Atchison, Topeka & Santa Fe R.R. bonds, 
Atlantic Avenue R.R. bonds, . 
Broadway & Seventh Avenue R.R. bonds, 
Broadway Surface R.R. bonds, 
Brooklyn City & Newtown R.R. bonds, . 
Baltimore & Ohio R.R. bonds, . 
Newark, Somerset & Straitsville R.R. bonds, 
Pittsburgh & Western R.R. bonds, . 
Pittsburgh, Painesville & Fairport R.R. bonds 

St. Paul R.R. bonds, 

Chicago, Burlington & Quincy R.R. bonds, 
Northwest R.R. bonds, .... 
Columbus, Sandusky & Hocking certificates, 
Central of Georgia R.R. bonds, 
Central of New Jersey R.R. bonds, . 
American Dock & Improvement Co. bonds, 
Columbus & Ninth Avenue R.R. bonds, . 
Chicago, St. Paul, Minn. & Omaha R.R. bonds 
Chicago & Alton R.R. bonds, . 
Coney Island & Brooklyn R.R. bonds, 
Chicago, Rock Island & Pacific R.R. bonds, 
Chicago & Eastern Illinois R.R. bonds, . 
Canada Southern R.R. bonds, . 
Cleveland, Cinn., Chic. & St. Louis R.R. b'ds 
Cleveland, Col., Cinn. & Ind. R.R. bonds, 
Indianapolis & St. Louis R.R. bonds, 
Cinn., Ind., St. Louis & Chicago R.R. bonds, 
Central Park, North & East River R.R. bonds 
Chesapeake & Ohio R.R. bonds, 
Albany & Susquehanna R.R. bonds, 
New York & Canada R.R. bonds, . 



Book Value. 

$571,218 00 
454,549 00 
765,900 00 
118,359 00 

1,878,481 00 

49,000 00 

107,834 00 

262,054 00 

1,012,020 00 
477,152 00 

2,176,964 00 
450,110 00 

1,247,374 00 
200,000 00 
204,587 00 
247,423 00 
369,808 00 

1,132,491 00 
514,512 00 
268,356 00 
104,413 00 
349,000 00 
316,000 00 
112,612 00 
433,380 00 
146,500 00 

3,589,050 00 
10,281,127 00 

8,409,474 00 
250,000 00 

3,042,093 00 
165,561 00 
252,038 00 
421,526 00 

1,300,553 00 
110,125 00 
606,100 00 

3,206,958 00 
23,150 00 

1,489,448 00 

1,143,828 00 
962,714 00 
171,625 00 
390,583 00 
140,759 00 

2,303,376 00 

2,172,008 00 
450,000 00 



Market Value. 

$637,000 00 

498,300 00 

765,900 00 

140,250 00 

1,753,375 00 

171,500 00 

119.886 00 
259,875 00 
965,000 00 
497,188 00 

6,262,496 00 
467,925 00 

1,753,216 00 
340,000 00 
271,050 00 
310,000 00 
387,500 00 

1,222,525 00 
522,390 00 
277,388 00 
103,850 00 
394,370 00 
306,520 00 
92,400 00 
507,814 00 
116,250 00 

3,739,455 00 
10,196,024 00 

9,109,491 00 
250,000 00 

3,144,913 00 
151,140 00 
247,520 00 

426.887 00 
1,490,260 00 

107,000 00 

606,100 00 

3,289,590 00 

22,800 00 

1,511,094 00 

1,184,028 00 

1,076,881 00 

196,687 00 

405,500 00 

136,992 00 

2,554,415 00 

2,125,185 00 

446,625 00 



78 THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. 8. 



Delaware & Hudson R.R. bonds, 

Morris & Essex R.R. bonds, 

New York, Lackawanna & Western R.R. b'ds 

Denver & Rio Grande R.R. bonds, . 

Erie R R. bonds, 

New York, Lake Erie & Western R.R. bonds 

Long Dock bonds, 

Jefferson R.R. bonds, .... 
Suspension Bridge & Erie June. R.R. bonds, 
Chicago & Erie R.R. bonds, 
Cleveland & Mahoning Valley R.R. bonds, 
Flint & Pere Marquette R.R. bonds, 
Fulton Street Railway bonds, . 
Eastern of Minnesota R.R. bonds, . 
Illinois Central R.R. bonds, 
Chic, St. Louis & New Orleans R.R. bonds, 
Kansas City Cable R.R. bonds, 
Kansas City Elevated R.R bonds, . 
Kentucky Central R.R. bonds, . 
Louisville & Nashville R.R. bonds, . 
Memphis & Ohio R.R. bonds, . 
Louisville, Cinn. & Lexington R.R. bonds, 
. Lexington Avenue & Pavonia Ferry R R. b'ds 
Lehigh Valley R.R. bonds, 
Missouri Pacific R.R. bonds, . 
Missouri Pacific Car Trusts, 
Pacific of Missouri R R. bonds, 
International & Great Northern R.R. bonds, 
International Car Trusts, .... 
Montana Central R.R. bonds, . 
Manhattan Elevated R.R. bonds, 
Metropolitan Elevated R.R. bonds, . 
New York Elevated R.R. bonds, 
Michigan Central R R. bonds, . 
Jackson, Lansing & Saginaw R.R. bonds, 
West Shore R.R. bonds, .... 
Pine Creek R R. bonds, .... 
Lake Shore R R bonds, .... 
Pittsburgh & Lake Erie R R. bonds, 
Cincinnati & Springfield R.R. bonds, 
Detroit, Monroe & Toledo R.R. bonds, . 
Midland of New Jersey R.R. bonds, 
New York, Chicago & St. Louis R.R. bonds, 
Scioto Valley & New England R.R. bonds, 
New York, Ontario & Western R.R. bonds, 
Northern Pacific R R. bonds, . , 
Ohio Southern certificates, 
Oregon R.R. & Navigation bonds, . 



Book Value. 

$485,947 00 

1.661.152 00 
2,145,441 00 
1,000,966 00 
1,477,594 00 

500,000 00 
133,500 00 
103,250 00 
84,574 00 
765,278 00 
811,225 00 
33,000 00 
290,250 00 

1,555,000 00 

2,987,642 00 
972,500 00 
193,000 00 
216,275 00 
878,575 00 
978,950 00 
28,562 00 
450,000 00 
885,494 00 

1,255,000 00 
712,892 00 
550,877 77 
311,614 00 
630,968 00 
82,408 50 
355,141 00 

2,031,149 00 

2.071.153 00 
566,100 00 

1,491,136 00 
41,400 00 

1,000,000 00 
443,549 00 

2,870,073 00 

1,064,500 00 
107,811 00 
12,700 00 
159,063 00 
193,000 00 
160,950 00 
481,125 00 

1.164.154 00 
368,759 00 
943,658 00 



Market Value. 

$468,281 00 

1,777,757 00 

2,163,200 00 

1,023,650 00 

1,501,140 00 

525,000 00 

135,500 00 

101,750 00 

78,540 00 

778,750 00 

800,125 00 

32,835 00 

291,000 00 

1,661,250 00 

3,016,260 00 

1,091,250 00 

193,000 00 

222,605 00 

409,500 00 

1,000,600 00 

27,344 00 

506,250 00 

942,987 00 

1,247,500 00 

758,750 00 

550,878 00 

326,571 00 

695,640 00 

82,408 00 

326,860 00 

2,039,650 00 

2,015,580 00 

611,600 00 

1,463,578 00 

39,750 00 

1,105,000 00 

489,580 00 

2,921,250 00 

1,057,500 00 

96,115 00 

9,963 00 

162,675 00 

194,250 00 

178,294 00 

573,832 00 

1,190,088 00 

365,000 00 

998,750 00 



THE EQUITABLE LIFE ASSURANCE SOCIETY OF THE U. S. 79 



Peoria & Pekin Union bonds, . 

Philadelphia & Reading R.R. bonds, 

Ohio & Mississippi R.R. bonds, 

Pennsylvania R.R. bonds, 

Pitts., Cin., Chic. & St. Louis R.R. bonds, 

Pittsburgh, Cincinnati & St. Louis R.R. bonds 

Allegheny Valley R.R. bonds, . 

Rochester & Pittsburgh R.R. bonds, 

South Ferry R.R. bonds, . 

St. Louis & San Francisco R.R. bonds, 

St. Louis & Iron Mountain R.R. bonds, 

Second Avenue R.R. bonds, 

St. Paul, Minneapolis & Manitoba R.R. bonds 

Wilmar & Sioux Falls R.R bonds, . 

St. Paul, Minneapolis & Manitoba R R bonds 

Richmond & Danville R.R. bonds, •. 

Virginia Midland R.R. bonds, . 

Texas & Pacific R.R. bonds, 

Thirty-fourth Street & Crosstown R.R. bonds 

Union Pacific R.R. bonds, 

Oregon Short Line R.R. bonds, 

Utah Northern R.R. bonds, 

United Traction & Electric Co. bonds, 

Wabash R.R. bonds, .... 

Wheeling & Lake Erie R.R. bonds, . 

Toronto debenture, .... 

Quebec city bonds, .... 

Province of Quebec bonds, 

Montreal city bonds, 

City of St. Henri bonds, . 

Winnipeg bonds, .... 

City of Elizabeth bonds, . 

City of Newark bonds, 

Virginia State bonds, 

City of Lynn bonds, .... 

Rochester city bonds, 

New York city bonds, 

Western Union Telegraph bonds, . 

Laclede Gas bonds, .... 

Baltimore Consolidated Gas bonds, . 

Western Transit Co. bonds, 

Westinghouse Electric & Mfg. Co. bonds 

International Navigation Co. bonds, 

Northwestern Telegraph Co. bonds, 

United Electric Light & Power Co. bonds, 

Broadway Realty Co. bonds, . . 

Equitable Gas Light Co. bonds, 

Edison Electric & Illuminating Co. bonds, 



Book Value. 

1267,031 00 
797,810 00 

1,826,775 00 
917,946 00 

3,223,710 00 
241,928 00 
736,582 00 
118,000 00 
183,000 00 
660,296 00 

4,888,182 00 
255,577 00 

1,891,806 00 
616,944 00 
189,793 00 
432,402 00 
248,858 00 
309,759 00 
280,625 00 

3,790,137 00 

2,169,653 00 

1,200,000 00 

505,000 00 

880,177 00 

110,833 00 

286,890 00 

134,546 00 

54,896 00 

673,953 00 

135,000 00 

142,850 00 

67,693 00 

267,500 00 

11,371 00 

67,646 00 

117,237 00 

1,047,488 00 

2,046,061 00 
317,564 00 
525,990 00 
517,340 00 
750,542 00 
102,500 00 
318,125 00 
263,250 00 
107,500 00 
40,900 00 
110,000 00 



Market Value. 

$301,200 00 
886,790 00 
1,835,600 00 
1,000,750 00 
3,483,887 00 
223,408 00 
746,583 00 
123,500 00 
190,313 00 
658,300 00 
5,244,268 00 
252,510 00 
2,078,710 00 
680,773 00 
210,600 00 
437,720 00 
262,900 00 
385,880 00 
284,375 00 
4,137,510 00 
2,245,575 00 
1,165,000 00 
560,000 00 
954,125 00 
85,500 00 
310,980 00 
144,167 00 
54,312 00 
719,183 00 
135,000 00 
144,432 00 
73,500 00 
300,000 00 
14,877 00 
66,660 00 
117,990 00 
1,070,000 00 
1,988,646 00 
375,743 00 
545,000 00 
510,000 00 
750,000 00 
105,000 00 
303,565 00 
262,500 00 
109,500 00 
39,200 00 
120,500 00 



80 



THE GERMANIA LIFE INSURANCE CO. 



United States bonds, 
Russian government bonds, . 
Rezan Ural Railway bonds, . 
Kursk Kieff Railway bonds, . 
Kieff Voronesh Railway bonds, 
Southeastern Railway bonds, 
Nobles' State Land Bank bonds, 
Prussian government bonds, 
Italian government bonds, 
German government bonds, 
Swedish government bonds, 
Swiss government bonds, 
Wurttemberg bonds, 
Cape of Good Hope government bonds 
Transvaal bonds, .... 
Brazilian government bonds, 
South Australian government bonds, 
Hungarian government bonds, 
Servian government bonds, . 
French government bonds, . 



Book Value. 

$968,800 00 
531,905 00 
592,136 00 

71,081 00 
388,891 00 
383,961 00 
204,429 00 
426,976 00 
656,553 00 
439,611 00 

93,934 00 

19,274 00 
109,741 00 

51,847 00 

48,747 00 
111,884 00 

60,454 00 
100,325 00 

21,421 00 
125,225 00 



Market Value. 

$876,900 00 

537,224 00 

'591,056 00 

72,270 00 

388,738 00 

381,177 00 

208,899 00 

459,626 00 

699,365 00 

469,045 00 

95,696 00 

18,991 00 

104,064 00 

55,279 00 

50,683 00 

62,385 00 

61,151 00 

105,612 00 

18,580 00 

123,479 00 



$133,930,675 27 $143,486,781 00 



"THE GERMANIA LIFE INSURANCE COMPANY" OF NEW 

YORK. 

[Incorporated April 10, 1860. Commenced business July 16, 1860 ] 
Paid-up Capital, $200,000. 
Cornelius Doremus, President. Hubert Cillis, Secretary. 

Income. 

Received for premiums on new policies, $376,752 35 

Received for renewal premiums, 2,512,703 82 

Dividends applied to pay running premiums, .... 118,132 48 

Dividends applied to purchase paid-up additions and annuities, 28,886 66 
Surrender values applied to purchase paid-up insurance and 

annuities, 140,239 48 

Received for annuities, 12,323 96 

Total, $3,189,038 75 

Deduct amount paid for reinsurance, 7,732 30 

Total premium income, $3,181,306 45 

Received for interest 977,307 22 

Received for rents of company's property, .... 143,222 46 

Profit on securities sold, 449 65 

Policy fees, 1,956 50 

Total income, f 4,304,242 28 

Net or ledger assets Dec. 31, 1897, 22,854,252 57 

Total $27,158,494 85 



THE GERMANIA LIFE INSURANCE CO: 



81 



Disbursements. 

Paid for losses and additions, 

Paid for matured endowments and additions, . 

Gross amount paid for losses and endowments, 

Paid to annuitants, 

Cash dividends paid policyholders, . . 

applied to pay running premiums, . 
applied to purchase paid-up additions 

annuities, 

Surrender values paid in cash, 

Surrender values applied to purchase paid-up insurance 
annuities, 



poli- 

gents 



Total paid policy holders, . 
Cash paid for dividends to stockholders, . 

for commissions and bonuses to agents (new 

cies, $237,024.84 ; renewals, $113,083.46), 
for salaries and allowances to managers and a 
for medical examiner's fees and inspections, 
for salaries of officers and home office employees 
for taxes on premiums, 
for taxes on reserves, 
for taxes on real estate, 
for fees, licenses, etc., 
for rent, . 

for commuting commissions, 
for advertising, printing and postage, 
for legal expenses, .... 
for furniture and office fixtures, 
for real estate expenses (except taxes), 
for loss on sales of property, . 
for incidentals, .... 



Total disbursements, 
Balance, 



and 



and 



$992,280 68 
498,331 64 

$1,490,612 32 

24,194 73 

10,580 01 

118,132 48 

28,886 66 
281,627 32 

140,239 48 

$2,094,273 00 
24,000 00 

350,108 30 

119,009 41 

30,881 17 

101,246 06 

18,101 32 

438 86 

21,248 01 

5,198 73 

24,760 00 

2,577 27 

24,407 42 

2,603 61 

3,362 67 

52,959 14 

8,136 50 

48,104 54 

$2,931,416 01 

$24,227,078 84 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgage of real estate (first liens), 
Loans on company's policies assigned as collateral 
Cost value of stocks and bonds owned (schedule A), 
Cash in company's office, 

deposited in bank, 

in transit (since received), . ... 

Total net or ledger assets, as per balance, 



$2,512,146 55 

13,071,450 00 

1,250,934 44 

6,963,600 50 

5,486 78 

281,602 30 

141,858 27 

$24,227,078 84 



82 



THE GERMAN! A LIFE INSURANCE CO. 



Other Assets. 

Interest due, $11,007.07; accrued, $246,953.66, 
Rents due, $1,500 ; accrued, $5,929.16, . 
Market value of real estate over cost, 
Market value of stocks and bonds over cost, . 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. 

155,631 43 

39,030 52 

£94,661 95 
18,932 39 



Total assets, per company's books, . 
Deduct special deposits in other States, . 



Renewals. 

$167,723 91 

296,208 40 

$463,932 31 
92,786 46 



$75,729 56 $371,145 85 



$257,960 73 

7,429 16 

60,944 63 

179,896 32 



446,875 41 



Balance, 



$25,180,185 09 
. 3,248,571 82 

$21,931,613 27 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), 
Deduct net value of reinsured risks, 



Net reserve, 

Death losses due and unpaid, . 
Matured endowments due and unpaid, 
Death losses in process of adjustment, 
Claims resisted by the company, 
Due and unpaid on annuity claims, . 

Total policy claims, .... 
Unpaid dividends of surplus due policy holders 
Premiums paid in advance, 
Contingent surrender values, . 
Extra reserve for war and other policies, 

Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 



— 250,010 32 

34,726 82 

7,079 42 

8,152 37 

77,686 92 

$22,288,362 85 
. 3,238,001 57 

$19,050,361 28 
Surplus as regards policy holders, . . . $2,881,251 99 

Paid-up capital, 200,000 00 

Surplus over capital, 2,681,251 99 

Gross liabilities, $21,931,613 27 



$21,950,650 00 
39,943 00 

$21,910,707 00 



$2,224 96 

2,069 00 

202,134 69 

41,913 52 
1,668 15 



THE GERMANIA LIFE INSURANCE CO. 



83 



Exhibit of Policies. 



Whole life, 
Endowment, 
All other, . 
Reversionary 


Policies and Additions in Force Dec. 31,1897 

Number. Amount. Total No. 

. 16,444 $31,505,345 00 

. 27,710 41,149,737 00 

109 277,513 00 

additions, . - 692,367 00 

\\ °6S 


Total Amount. 

$73,624,962 00 

11,413,098 00 

32,849 00 
39,225 00 


Whole life, 
Endowment, 
All other, . 


Policies issued during the Year. 

. 2,720 $5,212,804 00 

. 4,157 6,150,419 00 

14 49,875 00 

fi S01 


Whole life, 
Endowment, 


Old Policies revived. 

5 $12,500 00 

12 20,349 00 

17 


Additions by 


dividends, - 


Total, . 

Whole life, 
Endowment, 
All other, . 


51,171 

Policies terminated during the Year. 

. 1,905 $4,096,315 00 

. 2,990 4,302,073 00 

43 155,478 00 


$85,110,134 00 


4,938 $8,553,866 00 

How terminated. 

By death, .... 558 $1,066,559 00 
maturity, ... 340 482,752 00 

expiry 41 50,296 00 

surrender, ... 932 1,800,604 00 
lapse, .... 1,831 2,917,222 00 
change and decrease, . - 169,875 00 

Not taken, .... 1,236 2,066,558 00 


8,553,866 00 

76,556,268 00 
546,639 00 


Whole life, 
Endowment, 
All other, . 
Reversionary 


Policies in Force Dec. 31, 1898. 

. 17,264 $32,634,334 00 

. 28,889 43,018,432 00 

80 , 216,335 00 

additions, . - 687,167 00 

.... .. \& ow 


Industrial pol 


icies in force, 4,302 



84 



THE GERMANIA LIFE INSURANCE CO. 



Schedule A. 
Bonds owned by the Company. 



Virginia State bonds, 

Cote St. Antoine, Canada, town bonds, 

Dominion of Canada debentures, 

Montreal harbor bonds, . 

Austrian government bonds, . 

Hungarian government bonds, 

Bavarian government bonds, . 

Swiss government bonds, . 

Wurttemberg government bonds, 

Prussian government bonds, . 

City of Lexington, Ky., bonds, 

Atchison, Topeka & Santa Fe R.R. bonds, 

Atlantic Ave. R.R. bonds, . 

Baltimore & Ohio R.R. bonds, . 

Baltimore & Ohio equipment bonds, 

Cen. Park, No. & East River City R R. bonds 

Chesapeake & Ohio R.R. bonds, 

Chicago & Alton R.R. bonds, . 

Chicago, Burlington & Quincy R.R. bonds, 

Chicago, Hammond & Western R R. bonds, 

Chicago, Milwaukee & St. Paul R'y bonds, 

Chicago & Northwestern R'y bonds, 

Milwaukee, Lake Shore & Western R.R. bonds 

Chic, St. Paul, Minn. & Omaha R.R. bonds, 

Chicago Terminal Transfer R.R. bonds, . 

Cleve., Cinn., Chic. & St. Louis R'y bonds, 

Dayton & Michigan R.R. bonds, 

Delaware & Hudson Canal Co. bonds, 

The Edison Electric Illuminating Co. bonds, 

Flint & Pere Marquette R.R. bonds, 

Illinois Central R.R. bonds, 

King's County Elevated R'y Co. bonds, . 

Lake Erie &. Western R.R. bonds, . 

Long Island R.R. bonds, .... 

Metropolitan Street R'y bonds, 

Minneapolis & St. Louis R'y bonds, 

Minneapolis Street R'y bonds, . 

Missouri Pacific R'y bonds, 

Mobile & Ohio R R. bonds, 

Nashville, Chatt & St. Louis R'y bonds, . 

N. Y. Central & Hudson River R.R. bonds, 

N. Y., Lake Erie & Western R'y bonds,, . 

Northern Pacific R'y bonds, 

Oregon Short Line R.R. bonds, 

Panama R.R. bonds, 



Cost Value. 

117,075 00 
27,214 95 
52,625 00 
25,000 00 

565,798 55 
46,987 97 
10,392 60 
19,358 69 
98,634 48 
2,381,340 01 
46,125 00 
23,500 00 
72,687 50 
25,562 50 
50,375 00 
48,605 00 
42,600 00 
18,018 75 
30,806 25 

117,062 50 
25,200 00 

275,153 75 
49,750 00 

246,212 50 
21,531 25 

133,050 00 
20,900 00 
44,187 50 
24,500 00 

115,625 00 
94,500 00 
50,000 00 
51,500 00 
92,885 00 

124,250 00 
56,910 00 
47,625 00 
77,051 25 
47,000 00 
99,500 00 
59,696 25 

271,612 50 

118,175 00 
24,537 50 
50,375 00 



Market Value. 

$25,600 00 
27,156 25 
52,500 00 
26,250 00 

572,811 12 
53,212 60 
10,381 18 
19,040 00 
95,771 20 
2,365,849 47 
51,250 00 
23,600 00 
74,250 00 
26,250 00 
50,000 00 
44,800 00 
40,800 00 
16,350 00 
30,000 00 

115,000 00 
27,250 00 

306,240 00 
59,000 00 

271,820 00 
23,000 00 

146,880 00 
22,000 00 
51,100 00 
26,000 00 

118,000 00 
94,000 00 
30,000 00 
50,500 00 
92,260 00 

131,000 00 
60,060 00 
48,500 00 
80,500 00 
51,500 00 

105,000 00 
63,530 00 

302,460 00 

136,350 00 
27,000 00 
50,750 00 



HOME LIFE INSURANCE CO. 



85 



Paterson R'y bonds, .... 
Philadelphia & Reading R.R. bonds, 
Rio Grande Western R.R. bonds, 
St. Joseph & Grand Island R.R. bonds, 
St. Paul, Minn & Manitoba R'y bonds, 
Sioux City & Northern R.R. bonds, . 
South Carolina & Georgia R.R. bonds, 
Southern Pacific R.R. bonds, . 
Southern R'y bonds, .... 
Syracuse Rapid Transit R'y bonds, . 
Terre Haute & Indianapolis R.R. bonds, 
Texas & Pacific R.R bonds, 
Ulster & Delaware R.R. bonds, 
Wabash R.R. bonds, .... 



Cost Value. 

$24,375 00 

125,700 00 

112,250 00 

32,250 00 

215,450 00 

46,000 00 

24,500 00 

97,250 00 

36,225 00 

89,403 25 

20,200 00 

45,875 00 

49,875 00 

102,750 00 



Market Value. 

$28,250 00 

127,900 00 

135,000 00 

23,475 00 

246,000 00 

45,000 00 

24,750 00 

93,550 00 

31,500 00 

57,000 00 

21,000 00 

53,500 00 

50,000 00 

111,000 00 



$6,963,600 50 $7,143,496 82 



" HOME LIFE INSURANCE COMPANY," NEW YORK, N. Y. 

[Incorporated April 30, 1860. Commenced business May 1, I860.] 
Paid-up Capital, $125,000. 

George E. Ide, President. Ellis W. Gladwin, Secretary. 

Income. 

Received for premiums on new policies, $ 249,151 15 

Received for renewal premiums, 1,260,031 01 

Dividends applied to pay running premiums, .... 53,563 56 

Dividends applied to purchase paid-up additions and annuities, 97,892 25 
Surrender values applied to purchase paid-up insurance and 

annuities, 68,428 00 

Received for annuities, 9,723 21 



Total, 

Deduct amount paid for reinsurance, 



. $1,738,789 18 
7,064 15 



Total premium income, $1,731,725 03 

Received for interest, 387,140 14 

Received for rents of company's property, .... 92,525 12 

Profit on securities sold, . 675 62 

Total income, . $2,212,065 91 

Net or ledger assets Dec. 31, 1897, 9,557,185 50 

Total, $11,769,251 41 



86 



HOME LIFE INSURANCE CO. 



Disbursements. 

Paid for losses and additions, 

for matured endowments and additions, . 

on matured instalment policies, .... 

Gross amount paid for losses and endowments, 

Paid to annuitants, 

Cash dividends paid policy holders, .... 

applied to pay running premiums, 
applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, 

Surrender values applied to purchase paid-up insurance and 
annuities, 



Total paid policy holders, 

Cash paid for dividends to stockholders, .... 

for commissions and bonuses to agents (new poll 

cies, $128,396.89 ; renewals, $95,093.94), . 
for salaries and allowances to managers and agents 
for medical examiner's fees and inspections, . 
for salaries of officers and home office employees 

for taxes on premiums, 

for taxes on investments, $5 ; on reserves, $750.46 

internal revenue, $3,561.32, . 
for taxes on real estate, . 
for fees, licenses, etc., 

for rent, 

for advertising, printing and postage, 
for legal expenses, .... 
for real estate expenses (except taxes) , 
for incidentals, 

Total disbursements, 



Balance, 



$630,266 22 

131,675 41 

1,500 00 



$763,441 63 

18,871 44 

3,475 94 

53,563 56 

97,892 25 
121,175 19 

68,428 00 



$1,126,848 01 
15,000 00 

223,490 83 
69,918 85 
22,877 78 
89,300 07 
15,450 03 

4,316 78 
10,180 74 

7,007 12 
24,000 00 
21,582 10 

4,826 34 
27,599 19 

9,847 40 



$L672,245 24 
$10,097,006 17 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 

Premium notes or loans on policies in force, . 

Book value of stocks and bonds owned (schedule B), 

Cash deposited in bank, 

Bills receivable, 

Agents 1 debit balances, 

Due from fire insurance companies, 

Total net or ledger assets, as per balance, 



$1,603,487 63 

3,303,554 52 

25,400 00 

487,401 73 

486,394 55 

3,968,969 66 

146,975 51 

26,456 22 

45,413 24 

2,953 11 

$10,097,006 17 



HOME LIFE INSURANCE CO. 



87 



Other Assets. 

Interest due, $16,354.43 ; accrued, $90,204.57, . 
Rents due, $3,139.28 ; accrued, $2,162.49, 
Market value of real estate over book, . 
Market value of stocks and bonds over book, . 



$106,559 00 

5,301 77 

95,466 68 

145,555 58 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. 

$38,857 52 
18,741 32 



Renewals. 

$82,944 94 
82,152 50 



$57,598 84 $ 165,097 44 
11,519 77 33,019 49 



$46,079 07 $132,077 95 



Total assets, per company's books, . 



178,157 02 
$ 10,628,046 22 



Items not admitted. 



Agents' debit balances, 
Bills receivable, 
Total, . 



Total admitted assets, 
Deduct special deposits in other States, 



Balance, 



$45,413 24 
26,456 22 



71,869 46 

,556,176 76 
11,162 50 



$10,545,014 26 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . 
Deduct net value of reinsured risks, 



Net reserve, .... 
Present value of unpaid instalments, 
Death losses in process of adjustment, 
Claims resisted by the company, 

Total policy claims, . 
Unpaid dividends of surplus due policy holders, 
Premiums paid in advance, 
Contingent surrender values, . 



Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 

Surplus as regards policy holders, . 
Paid-up capital, .... 

Surplus over capital, 



Gross liabilities, 



$73,162 40 
23,500 00 



1,293,200 00 
16,378 00 

),276,822 00 
15,533 00 



96,662 40 

5,583 95 

10,312 50 

7,016 00 



$1,144,246 91 



. a 



1,411,929 85 

11,162 50 

),400,767 35 

125,000 00 

. 1,019,246 91 

$10,515,014 26 



88 



HOME LIFE INSURANCE CO. 



Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . f482,171 85 
Premium notes received during 1898 (new poli- 
cies, $1,815.75; old policies, $91,8-47.35), . 93,663 10 

Total, 

Used in payment of losses and claims, . . $16,899 39 

in purchase of surrendered policies, . 27,581 12 

in payment of dividends to policyholders, 24,461 96 

Redeemed by maker in cash, .... 20,497 93 

Total, 



Balance note assets Dec. 31, 1898, 



$575,834 95 



89,440 40 
$486,394 55 



Exhibit of Policies. 



Whole life, 
Endowment, 
All other, . 
Reversionary 


Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

. 17,982 $33,709,699 00 

. 3,297 5,801,042 00 

. 1,262 3,143,621 00 

additions, . - 788,685 Q0 

00 ^11 $ 13 4 13 017 00 


Whole life, 
Endowment, 
All other, . 


Policies issued during the Tear, 

. 3,991 $6,745,765 00 
692 1,132,069 00 
275 731,020 00 



4,958 8,608,854 00 



Whole life, 
Endowment, 
All other, . 



Old Policies revived. 

63 $150,000 00 

12 15,000 00 

4 12,000 00 



79 



177,000 00 



Whole life, 
Endowment, 
All other, . 

Total, . 



Old Policies changed and increased. 

3 $4,887 00 

5 27,000 00 

2,000 00 



8 



33,887 00 



. 27,586 $52,262,788 00 



Policies terminated during the Tear. 

Whole life, . . . * 2,543 £5,196,676 00 
Endowment, ... 449 780,109 00 

All other, .... 319 711,622 00 



3,311 ?6,688,407 00 



HOME LIFE INSURANCE CO. 



89 



By death, . 

maturity, 

surrender, . 

lapse, . 

change and decrease, 
Not taken, . 



How terminated. 

Number. Amount. 

293 $630,266 00 

76 131,675 00 

698 1,520,979 00 

1,449 2,775,716 00 

8 138,355 00 

787 1,491,416 00 



Total No. 



Total Amount. 



3,311 $6,688,407 00 



Policies in Force Dec. 31, 1898. 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



19,496 $35,413,675 00 

3,557 6,195,002 00 

1,222 3,017,463 00 

948,241 00 



24,275 45,574,381 00 



Schedule A. 
Securities held as Collateral. 



Market Value. Loaned Thereon. 



50 shares Union Trust Company, 



45 
27 
20 
62 
10 
19 
30 
20 



American Exchange Nat'l Bank, 
United New Jersey R'y & Canal Co., 
Nassau Fire Insurance Co., 
Brooklyn Bank, .... 
Washington Trust Co., 
N. Y. & New Jersey Telephone Co., 
Standard Oil Trust, .... 
Bond and Mortgage Guarantee Co., 



Schedule B. 

Stocks and Bonds owned by the 



100 shares Central Trust Co., 
162 " American Exchange Nat'l Bank, 
200 " National Bank of Commerce, 
299 " Erie R.R., . 
100 " Brooklyn Trust Company, 
100 " Colonial Trust Company, 
550 " Lincoln, Neb., Traction Co., 
2,500 " Brooklyn City R.R., . 
United States bonds, 
N. Y., Chicago & St. Louis R.R. bonds, 
N. Y., Lack. & Western R R. bonds, 
Albany & Susquehanna R.R. bonds, 
Morris & Essex R.R. bonds, 



$56,250 00 
7,650 00 
7,074 00 
1,500 00^ 
4,092 00 
2,450 00 
2,983 00 
12,870 00 
4,200 00 J 



$6,000 00 
4,400 00 
5,000 00 



10,000 00 



$99,069 00 $25,400 00 



Company. 

Book Value. 

$29,500 00 

22,512 25 

34,085 75 

11,923 50 

40,045 50 

15,525 00 

56,000 00 

54,999 99 

357,904 19 

197,689 74 

97,500 00 

241,925 00 

267,967 50 



Market Value. 

$117,500 00 

27,351 00 

40,000 00 

9,998 00 

39,100 00 

25,000 00 

17,187 50 

57,478 17 

375,354 17 

208,500 00 

103,916 67 

244,025 00 

280,833 33 



90 



HOME LIFE INSURANCE CO. 



Chicago & Northwestern R R. bonds, 

Oswego <£r Syracuse R R. bonds, 

Jefferson R.R. bonds, 

Delaware & Hudson R.R bonds, 

Monmouth County, N J., school bonds, 

Michigan Central R.R. bonds, . 

Central R.R. of N. J. bonds, . 

Lake Shore & Mich. South'n R.R. bonds, 

La. & Mo. River R R. bonds, . 

N. Y. Cent. & Hudson River R R. bonds, 

R. W. & O. R.R. bonds, . 

C. C. C. & I R.R. bonds, . 

Nashville & Decatur R.R. bonds, 

N. Y. & Harlem R.R. bonds, . 

Kalamazoo & White Pigeon R.R. bonds, 

Norfolk & Southern R.R. bonds, 

Jackson, Lansing & Saginaw R.R. bonds, 

Detroit, Monroe & Toledo R.R. bonds, 

Brooklyn City R.R. bonds, 

Chicago, Burlington & Quincy R.R. bond; 

Long Island R.R. bonds, . 

Flatbush sewer bonds, 

Newark sewer bonds, 

Michigan Central R.R. bonds, . 

Edison Electric Illuminating Co. bonds, 

Lehigh Valley Terminal R R. bonds, 

Chicago & Eastern Ills, bonds, 

Union Ferry Company bouds, . 

Lincoln, Neb., Traction Co. bonds, . 

Cleve., Cinn., Chic. & St Louis R.R. bonds, 

Detroit & Bay City bonds, 

Atlantic Ave R R bonds, . 

Minneapolis & St Louis R.R. bonds, 

St. Louis & Iron Mountain R.R. bonds, 

42d St., Man. & St. Nich. Ave. R R. bonds, 

Brooklyn City & Newtown R R. bonds, 

N. Y. & N. J. Tel. Co. bonds, . 

Brooklyn Union Gas Co. bonds, 

Erie R.R. bonds, 

Equitable Gas Light Co. bonds, 

Standard Gas Light Co. bonds, 

Nassau Electric R R bonds, 

Hoboken Ferry Co. bonds, 

Central Union Gas, N. Y., bonds, 

Union Pacific R.R. Co. bonds, . 

Edison Electric Ilium. Co. of N. Y. bonds, 

Pittsburg & Western R R. bonds, . 

Missouri, Kan. & Texas R.R. bonds, 



Book Value. 

$28 1,400 00 
38,950 00 
102,500 00 
79,091 25 
23,605 00 
49,725 00 
35,874 14 
69,575 00 
33,720 83 
105,750 00 
109,170 00 
11,441 67 
56,750 00 
5,900 00 
9,787 50 
53,500 00 
30,825 50 
12,325 00 
54,664 99 
26,693 00 
17,500 00 
50,000 00 
50,000 00 
24,200 00 
50,000 00 
54,562 50 
50,517 36 
25,000 00 
10,000 00 
91,750 00 
43,093 75 
45,570 00 
37,500 00 
52,000 00 
17,325 00 
55,038 75 
53,812 50 
52,906 25 
32,878 75 
57,375 00 
44,150 00 
23,500 00 
40,465 00 
25,531 25 
45,793 75 
38,587 50 
21,781 25 
22,525 00 



Market Value. 

1283,666 67 
43,383 33 
101,750 00 
78,466 67 
25,385 00 
55,562 50 
31,387 50 
59,237 50 
30,474 17 
107,833 33 
127,750 00 
10,070 83 
50,750 00 
5,141 67 
10,575 00 
56,191 67 
29,800 00 
12,008 33 
56,250 00 
25,190 00 
18,933 33 
52,083 33 
52,055 56 
22,066 67 
54,375 00 
54,875 00 
53,083 33 
25,291 67 
9,750 00 
96,333 33 
39,083 33 
45,255 00 
34,950 00 
51,291 67 
16,650 00 
54,750 00 
54,583 33 
55,583 33 
35,000 00 
56,666 67 
44,866 67 
25,687 50 
40,391 67 
25,375 00 
49,250 00 
38,441 67 
23,250 00 
22,416 67 



THE MANHATTAN LIFE INSURANCE CO. 



91 



Brooklyn, Queen's Co. & Sub. R.R. bonds, 

East Tenn , Va. & Ga. R.R. bonds, . 

Milwaukee City R R. bonds, 

Edison Electric 111. Co. of Brooklyn bonds, 

Baltimore & Ohio R.R. bonds, . 

Met. St. R.R. Co. bonds, .... 

Newark, N. J., R.R. bonds, 



Book Value. 

$27,431 25 
3,318 75 
26,250 00 
23,125 00 
59,270 00 
29,241 25 
48,142 50 



Market Value. 

$27,125 00 
3,335 00 
26,145 83 
23,250 00 
58,375 00 
29,166 67 
47,670 00 



1,968,969 66 $4,114,525 24 



"THE MANHATTAN LIFE INSURANCE COMPANY," NEW 

YORK, N.Y. 

[Incorporated 1850. Commenced business Aug. 1, 1850.] 

Paid-up Capital, $100,000. 

Henry B. Stokes, President. William C. Frazee, Secretary. 



Income. 

Received for premiums on new policies, 

Received for renewal premiums, 

Dividends applied to pay running premiums, 

Dividends applied to purchase paid-up additions and annuities, 

Surrender values applied to purchase paid-up insurance and 

annuities, . . . . 
Received for annuities, 



Total, 

Deduct amount paid for reinsurance, 

Total premium income, 
Received for interest, 

for rents of company's property, 
for reinsurance, 
Premium notes or loans restored, . 



Total income, . 
Net or ledger assets Dec. 31, 1897, . 



Total, 



$192,225 59 

1,537,681 00 

28,425 77 

1,474 33 

83,241 10 
14,873 43 



,857,921 22 
11 £00 83 



,846,720 39 

512,839 22 

194,220 56 

437 12 

752 64 



$2,554,969 93 

14,085,722 78 

$16,640,692 71 



Disbursements 
Paid for losses and additions, . 
Paid for matured endowments and additions, 



Gross amount paid for losses and endowments, 

Paid to annuitants, 

Premium notes or loans voided by lapse, 



. $1,087,382 07 
137,523 00 

. $1,224,905 07 
13,585 15 
15,733 20 



92 



THE MANHATTAN LIFE INSURANCE CO. 



Cash dividends paid policy holders, 

applied to pay running premiums 

applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, . 

Surrender values applied to purchase paid-up insurance and 

annuities, 



Total paid policy holders, . 

Cash paid for dividends to stockholders, . 

for commissions and bonuses to agents (new poll 

cies, $112,665.91; renewals, $98,920.32), . 
for salaries and allowances to managers and agents 
for medical examiner's fees and inspections, . 
for salaries of officers and home office employees 

for taxes on premiums, 

for taxes on reserves, $1,907.88 ; internal revenue 

$4,034.16, 

for taxes on real estate, . 
for fees, licenses, etc., 

for rent, 

for advertising, printing and postage, 
for legal expenses, .... 
for furniture and office fixtures, 
for real estate expenses (except taxes), 
for incidentals, .... 

Profit and loss account, 



$16,476 60 

28,425 77 

1,474 33 
193,496 17 

83,241 10 



,577,337 39 
20,000 00 

211,586 23 
55,555 12 
38,633 10 

100,348 23 
14,964 33 

5,942 04 
28,378 76 

5,915 75 
64,361 02 
29,969 15 
14,493 -:, 
54 43 
54,772 15 
19,000 16 

6,440 63 



Total disbursements, $2,247,752 24 

Balance 



114,392,940 47 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 

Premium notes or loans on policies in force, . 

Cost value of stocks and bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 



Total net or ledger assets, as per balance, 

Other Assets. 

Interesfdue, $28,161.17 ; accrued, $90,088.42, 

Rents due, 

Market value of real estate over cost, 
Market value of stocks and bonds over cost, . 



$3,621,554 16 

4,775,273 74 

1,176,153 40 

424,975 40 

453,448 40 

3,487,663 61 

3,201 44 

450,670 32 

$14,392,940 47 



118,249 59 

12.233 35 

360,726 34 

204,486 14 



THE MANHATTAN LIFE INSURANCE CO. 



93 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

1111,134 56 $ 104,803 3-4 
4,462 00 91,852 00 



.15,596 56 $196,655 34 
23,119 31 39,331 07 



$92,477 25 $157,324 27 



Agents'' balances in transit, since received, 

Agents' balances, 

Commuted commissions, .... 



Total assets, per company's books, . 



$249,801 52 

14,828 10 

46,235 36 

155,102 25 

$15,554,603 12 



Items not admitted. 
Commuted commissions, $155,102 25 



Agents' balances, 



Total, 



Total admitted assets, 
Deduct special deposits in other States, 



Balance, 



46,235 36 



- 201,337 61 

$15,353,265 51 
10,250 00 

$15,343,015 51 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $13,749,084 00 
Deduct net value of reinsured risks, 11,874 00 



Net reserve, 



Commissions due on premium notes, 
Matured endowments due and unpaid, . 
Death losses in process of adjustment, . 
Claims resisted by the company, 

Total policy claims, 

Unpaid dividends of surplus due policy holders, 
Premiums paid in advance, . . 
Contingent surrender values, .... 

Liabilities as to policy holders, ■ . 
Deduct liabilities on special deposits, 



$13,737,210 00 
6,156 09 



$4,075 00 

135,423 30 

67,967 00 



— 207,465 30 

16,703 84 

10,935 51 

4,576 00 

$13,983,046 74 
10,250 00 

$13,972,796 74 
Surplus as regards policy holders, . . . $1,370,218 77 

Paid-up capital, . 100,000 00 

Surplus over capital, 1,270,218 77 

Gross liabilities, $15,343,015 51 



94 



THE MANHATTAN LIFE INSURANCE CO. 



Premium Note Account. 



Premium notes on hand Dec. 31, 1897, . 
received during 1898, 
restored by revival of policies 

Total, 

Used in payment of losses and claims, . 
Used in purchase of surrendered policies, 

Voided by lapse, 

Used in payment of dividends to policy holders 
Redeemed by maker in cash, . 

Total 

Balance note assets Dec. 31, 1898, . 



$496,851 23 

141,061 94 

752 64 

$33,229 33 

12,165 98 

15,733 20 

833 81 

123,255 09 



$638,665 81 



185,217 41 



$453,448 40 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. 



Total Amount. 



Whole life, 
Endowment, 
All other, . 
Reversionary 


additions, 
Pol 

• • 

• t 

• • 

• • 

• • 

acreased, 
dividends, 

Policx 
• • 


. 21,631 $46,998,259 00 

. 2,214 5,138,834 00 

. 1,267 3,968,594 00 

50,779 00 


25,112 
r. 

3,672 
61 


$56,156,466 00 

9,374,564 00 

206,968 00 

66,777 00 

1,212 00 


Whole life, 
Endowment, 
All other, . 


ides issued during the Yea 

. 3,189 $7,941,506 00 
310 792,920 00 
173 640,138 00 


Whole life, 
Endowment, 
All other, . 


Old Policies revived. 

57 f 180,600 00 
3 22,500 00 
1 3,868 00 


Old policies i 
Additions by 


• ••••• 

• • • • • . 

'es terminated during the I 

. 2,835 $6,958,182 00 
316 805,167 00 
226 876,193 00 


Whole life, 
Endowment, 
All other, . 


28,845 
'ear. 


$65,805,987 00 



3,377 $8,639,542 00 



THE MANHATTAN LITE INSURANCE CO. 



95 





How terminated. 








Number. 


Amount. 


Total No. 


Total Amoun . 


By death, . 


453 


$1,259,361 00 






maturity, 


73 


141,598 00 






expiry, . 


. 


88,496 00 






surrender, 


303 


744,706 00 






lapse, . 


1,490 


3,245,803 00 






change and decrease, 


107 


888,452 00 






Not taken, . 


951 


2,271,126 00 


3,377 


$8,639,542 00 



Policies in Force Dec. 31, IS 98. 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



22,042 $48,162,183 00 

2,211 5,149,087 00 

1,215 3,805,639 00 

49,536 00 



25,468 57,166,445 00 



Schedule A. 
Securities held as Collateral. 



Iowa Central Railway Co. bonds, . 
385 shares Iowa Central Railway Co., 

75 " Bank of the Metropolis, . 

70 " American Express Co., . 
New York city bonds, 
62 shares Morris & Essex Railway Co., 
11 " Chicago & Northwest Railway Co., 
Cedar Rapids & Missouri River R'y bonds, 
Winona & Southwestern Railway bonds, 
N. Y., Lackawanna & Western R'y bonds, 
Houston & Texas Central Railway bonds, 
100 shares Continental Trust Co., . 
200 " American Surety Co., 
Lehigh & Wilkesbarre Coal Co. bonds, . 
272 shares East River National Bank, 
300 " Illinois Central Railway Co., . 
Ann Arbor Railway bonds, 
100 shares Burl., Cedar Rapids & No. R'y Co 
United States bonds, .... 

20 shares Mahoning Coal Railway Co., . 



120 
200 
200 
830 
10 



Union Trust Co., 
Henderson Bridge Co., . 
Louisville & Nashville R.R., . 
Nash., Chatt. & St. Louis R'y Co., 
First N'l Bank of Red Bank, N. J., 



Market Value. 

$28,300 00 

16,100 00 

30,000 00 

10,000 00 

5,000 00 ^ 

5,400 00 

1,500 00 

4,800 00 

400 00 } 

4,100 00 

31,300 00 

20,000 00 

17,500 00 

12,700 00 

8,800 00 

34,200 00 

3,500 00 

8,000 00 

5,600 00 

1,000 001 

120,000 00 

20,000 00 

12,800 00 

58,100 00 J 

■ 3,000 00 



Loaned Thereon. 

$31,275 00 
25,000 00 



67,800 00 



15,000 00 

20,000 00 
1,600 00 
4,500 00 
5,000 00 



> 160,000 00 



1,000 00 



96 



THE MANHATTAN LIFE INSURANCE CO. 



Kanawha & Michigan Railway bonds, 
Evansville & Indianapolis R.R. bonds, . 
San Antonio & Aransas Pass R.R. bonds, 
United States bonds, .... 

Central Railroad of New Jersey bonds, . 
Queen's County Water Co. bonds, . 
150 shares Chic., Milwaukee & St. Paul R'y Co 

48 " Clev., Cin., Chic. & St. Louis R'y Co 

80 " National Citizens 1 Bank, 
280 " National Citizens' Bank, 

20 " Union Trust Co 

100 " Western Union Telegraph Co., 

68 " N. Y , N. H. & Hartford R'y Co., 
100 " N. Y., Ontario & Western R'y Co 

100 " Rome, Water'n & Ogdens. R'y Co 

101 " Consolidated Gas Co., . 
40 " National Citizens' Bank, . 

Denver & Rio Grande Railway bonds, 
Rio Grande Western Railwa}^ bonds, 
Consumers' Gas Co. of Philadelphia bonds, 
100 shares National Citizens' Bank, . 
Missouri Pacific Railway Co. bonds, 
200 shares Cleve., Cinn., Chic. & St. L. R'y Co 

40 " N. Y., New Haven & Hartf. R'y Co 
600 " Atch., Top. & Santa Fe R'y Co., 
400 " Chicago & Northwestern R'y Co., 

25 " American Express Co., . 
300 " Atch , Top. & Santa Fe R'y Co., 
100 " Read. Co. & Phil. & Read. C. & I. Co, 
400 " Atch., Top. & Santa Fe R'y Co., 
200 " Missouri, Kan. & Texas R'y Co , 
200 " People's Gas Co., . 
200 " Tennessee Coal, Iron & R.R. Co., 

70 " Brooklyn Rapid Transit Co., . 
Courier Journal bonds, .... 
300 shares United States Rubber Co., 
200 " United States Rubber Co., 
100 " Pullman's Palace Car Co., 
200 " Evansville & Terre Haute R'y Co 
100 " Illinois Central Railway Co., . 
100 " Chesapeake & Ohio R'y Co., . 
200 " American District Telegraph Co., 
100 " Southern Pacific Co., 
100 " Tennessee Coal, Iron & R.R. Co., 
300 " Union Pacific Railway Co., 
100 " Pacific Mail Steamship Co., . 
200 " Chic, Mil. & St. Paul R'y Co., 
700 " Northern Pacific Railway Co., 



} 



Market Yalne. 

11,600 00 
1,000 00 
1,600 00 

22,600 00 

22,200 00 
5,000 00 

17,800 00 
2,000 00 
2,700 00 
9,400 00 

20,000 00^ 
9,200 00 

12,900 00 
1,800 00 

12,800 00 

19,500 00 
1,300 00 
3,000 00 
900 00 
1,000 00 J 
3,300 00 
9,200 00 
8,600 00 
7,600 00 

10,800 00 

56,800 00 
3,600 00 
5,700 00 
1,100 00 

20,800 00 
7,600 00 j> 

22,000 00 ' 
7,400 00 
5,300 00 

10,000 00 

33,300 00 
8,800 00^ 

15,800 00 
4,000 00 

11,400 00 
2,500 00 
7,000 00 
3,400 00 
3,700 00 

12,900 00 
4,500 00 

24,000 00 

30,800 00 J 



Loaned Thereon. 

$2,500 00 
20,000 00 
30,000 00 

3,500 00 
4,500 00 



}► 52,000 00 



2,500 00 
7,000 00 

13,578 40 
50,000 00 



55,000 00 



35,000 00 



}> 100,000 00 



THE MANHATTAN LIFE INSURANCE CO. 



97 



17 shares N. Y., N. H. & Hartford R'y Co., 

20 " Rome, Water'n & Ogdens. R'y Co. 

50 " Consolidated Gas Co., 
100 " Chic., Milwaukee & St. Paul R.R. 
Colorado Coal & Iron Co. bonds, 
150 shares Columbia Bank, 
100 " Union Trust Co., 

40 " Wagner Palace Car Co., . 
920 " National Citizens' Bank, . 
400 " Tennessee Coal, Iron & R.R. Co., 
Mortgage, Babylon, N. Y., 
100 shares Chic, Bur. & Quincy Railway Co., 
200 " Federal Steel Co., . 
100 " People's Gas Co., . 
100 " Pitts., Cinn , Chic. & St. Louis R.R. 
100 " Cleve., Cinn., Chic. & St. Louis R.R. 
300 " Tennessee Coal, Iron & R.R. Co., 
100 " Chic , Mil. & St. Paul Railway Co. 
400 " Northern Pacific Railway Co., 
300 " Northern Pacific Railway Co., 
500 " Atch , Top. & Santa Fe R'y Co., 
100 " Chic, Bur. & Quincy Railway Co., 
100 " Northern Pacific Railway Co., 
100 " Tennessee Coal, Iron & R.R. Co., 
100 " Consolidated Gas Co , . 
100 " Great Northern Railway Co., . 
200 " People's Gas Co., . 
200 " Missouri, Kan. & Texas R'y Co., 
Read. Co. & Phila. & Read. C. & I. Co. bonds 
500 shares Chic, Bur. & Quincy R'y Co., 
100 " Chic, Mil. & St. Paul R'y Co., 
100 " Western Union Telegraph Co., 
200 " Tennessee Coal, Iron & R.R. Co., 



Schedule B. 



Market Value. 

$3,200 00^ 
2,500 00 | 
9,700 00 y 
16,500 00 | 
1,900 00 J 
22,500 00 
100,000 00 
6,400 00 
31,000 00 
40,000 00 
15,000 00 
12,500 00^ 
16,600 00 
11,000 00 
8,400 00 }> 
4,400 00 
11,100 00 
12,000 00 
30,800 00 
13,200 00^ 
26,000 00 | 
12,500 00 '} 
7,700 00 | 
3,700 00 J 
19,500 00 ^ 
14,000 00 
22,000 00 y 
7,600 00 | 
84,400 00 J 
62,500 00^ 



Loaned Thereon. 



$20,000 00 



15,000 00 

53,500 00 

5,000 00 

23,000 00 

22,900 00 



12,000 00 



9,300 00 
7,400 00 j 



60,000 00 

25,000 00 
50,000 00 



120,000 00 



} 75,000 00 



$1,629,600 00 $1,176,153 40 



Stocks and Bonds owned by the Company. 

Cost Value. Market Value. 

50 shares Bank of Commerce, New York, . $4,460 00 $10,200 00 

United States bonds, 118,098 70 128,943 75 

Virginia State bonds, 4,335 37 25,831 00 

Mississippi State bonds, 10,000 00 10,000 00 

Central Park, North & East River R.R. bonds, 115,325 00 112,500 00 

Atchison, Topeka & Santa Fe R.R. bonds, . 40,447 23 49,875 00 

Union Pacific R.R. bonds 93,854 28 103,000 00 

Albany & Susquehanna R.R. bonds, . . 59,000 00 60,500 00 

Ohio & Mississippi R.R. bonds, . , . 58,000 00 62,000 00 



98 



METROPOLITAN LIFE INSURANCE CO. 



Missouri Pacific R.R. bonds, . 
N. Y., Susquehanna & Western R.R. bonds, . 
Dakota & Great Southern R.R. bonds, 
Morgan's La. & Texas R.R. & S.S. Co. bonds, 
Sewer & Drainage Cert., New Rochelle, N.Y., 
Town of Danville, Va., bond, . 
Denver & Rio Grande R.R. bonds, . 
N. Y., Lake Erie & Western R.R. bonds, 
Burl., Cedar Rapids & Northern R.R. bonds, 
Chicago & Eastern Illinois R.R. bonds, . 
Central Railroad of New Jersey bonds, . 
Monongahela R.R. bonds, 
Reading Co. & P. & R. Coal & Iron Co. bonds, 
Equitable Gas Light Co. of New York bonds, 
Chicago, Rock Island & Pacific R.R. bonds, 
Cleveland, Loraine & Wheeling R.R. bonds, 
Knox & Lincoln R.R. bonds, . 
Kanawha & Michigan R.R. bonds, . 
Lehigh & Wilkesbarre R.R. bonds, . 
School District, Bergen County, N. J., bonds, 
Western Union Collateral Trust bonds, . 
Toledo & Ohio Central R'y bonds, . 
Elizabethtown, Lex. & Big Sandy R.R. bonds 
Minneapolis & St. Louis R.R. Co bonds, . 
Duluth & Iron Range R.R. bonds, . 
Chicago & Indiana Coal R'y bonds, . 
The Galveston Wharf Co. bonds, 
Burlington, Cedar Rapids & N. R'y Co. bonds, 
Louisville, Henderson & St. Louis R.R. bonds, 
Massillon & Cleveland Coal Co. bonds, 
New Jersey Steamboat Co. bonds, . 
Kansas City Cable R'y bonds, . 
Toledo Traction Co. bonds, 
Houston, East & West Texas R'y bonds, 
Little Falls & Dolgeville R'y Co. bonds, 
N. Y., Susquehanna & Western R'y Co. bonds, 



Cost Value. 

8111,250 00 

101,138 89 

100,000 00 

70,805 28 

19,000 00 

10,250 00 

78,000 00 

119,513 89 

50,718 89 

96,958 34 

27,628 48 

50,770 84 

88,447 22 

211,250 00 

150,776 46 

150,000 00 

53,250 00 

77,011 11 

107,426 02 

48,762 50 

52,834 46 

96,500 00 

49,929 87 

50,786 11 

200,791 67 

101,500 00 

50,000 00 

101,500 00 

11,655 50 

97,500 00 

47,562 50 

100,125 00 

98,000 00 

90,000 00 

54,000 00 

58,500 00 



Market Value. 

$109,000 00 

110,000 00 

114,000 00 

75,500 00 

19,000 00 

10,250 00 

102,750 00 

124,250 00 

53,250 00 

110,500 00 

28,875 00 

52,250 00 

88,250 00 

234,000 00 

160,125 00 

160,500 00 

52,625 00 

80,000 00 

100,000 00 

48,762 50 

57,500 00 

90,000 00 

51,500 00 

55,125 00 

212,000 00 

105,000 00 

50,500 00 

110,000 00 

6,225 00 

101,000 00 

47,562 50 

101,000 00 

98,000 00 

97,500 00 

54,000 00 

58,500 00 



$3,487,663 61 $3,692,149 75 



"METROPOLITAN LIFE INSURANCE COMPANY/' NEW 

YORK, N. Y. 

[Incorporated June, 1866. Commenced business January, 1867.] 
Paid-up Capital, $2,000,000. 

John R. Hegeman, President. George B. Woodward, Secretary. 

Income. 
Received for premiums on new policies (ordinary) , . .$1,095,445 48 
for premiums on new policies (industrial), . . 1,622,67100 
for renewal premiums (ordinary) , .... 1,196,82473 



METROPOLITAN LIFE INSURANCE CO. 



99 



Received for renewal premiums (industrial) , 
Received for annuities, 



Total premium income, 
Received for interest, 
Received for rents of company 
Miscellaneous, . 



s property 



Total income, 
Net or ledger assets Dec. 31, 1897, . 

Total, 



Disbursements. 

Paid for losses, 

Paid to annuitants, .... 
Cash dividends paid policy holders, 
Surrender values paid in cash, 



$19,436,278 62 

21,549 86 

823,372,769 69 

. 1,319,878 09 

414,912 02 

30,398 12 

$25,137,957 92 

. 35,577,468 47 

$60,715,426 39 



Total paid policy holders, . 

Cash paid for dividends to stockholders, 

for commissions and bonuses to agents (new poll 

cies, $778,833.40; renewals, $2,929,626.08), 
for salaries and allowances to managers and agents 
for medical examiner's fees and inspections, . 
for salaries of officers and home office employees 

for taxes on premiums, 

for taxes on investments, $110.59 ; on reserves 

$6,374.62 ; internal revenue, $43,132.25, . 
for taxes on real estate, . 
for fees, licenses, etc., 

for rent, 

for commuting commissions, . 

for advertising, printing, postage, etc., 

for legal expenses, .... 

for furniture and office fixtures, 

for real estate expenses (except taxes), 

for incidentals, .... 

Agents' deposits returned, .... 

Total disbursements, 



Balance, 



$7,691,942 55 

2,302 50 

487,314 54 

236,470 95 



$8,418,030 54 
140,000 00 

3,708,459 48 

2,218,644 08 

483,664 73 

1,011,795 06 

180,595 32 

• 

49,617 46 

47,724 62 

33,183 95 

261,526 99 

1,074,074 92 

388,465 35 

90,020 40 

63,600 44 

119,481 71 

380,343 19 

7,670 64 

$18,676,898 88 

$42,038,527 51 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
Loans on company's policies assigned as collateral, 
Premium notes or loans on policies in force, . 
Cost value of stocks and bonds owned (schedule A), 



$8,883,619 99 

16,250,725 00 

62,719 94 

494,936 80 

13,554,225 48 



100 METROPOLITAN LIFE INSURANCE CO. 

Cash in company's office, $244,147 80 

Cash deposited in bank, 2,537,736 20 

Agents' debit balances, 10,416 30 

Total net or ledger assets, as per balance, . . $42,038,527 51 

Other Assets. 

Interest due, $69,859.60; accrued, $331,649.05, . . . 401,508 65 
Rents due, $12,747.73 ; accrued, $3,092.64, .... 15,840 37 

Market value of stocks and bonds over cost, .... 398,811 52 

New Business. Renewals. 

Uncollected premiums on poli- 
cies in force, .... $94,154 71 $68,116 78 

Deferred premiums on policies 

in force, 168,820 21 250,658 46 



Total,. . $262,974 92 $318,775 24 

Deduct loading (20 per cent.),. 52,594 98 63,755 05 



Net amount of uncollected and 

deferred premiums, . . $210,379 94 $255,020 19 



465,400 13 

Net amount of uncollected and deferred premiums (inter- 
mediate), 186,259 57 

Net amount of uncollected premiums (industrial), . . 16,082 06 

Total assets, per company's books, .... $43,522,429 81 
» 

Items not admitted. 
Agents' debit balances, 10,416 30 



Total admitted assets, $43,512,013 51 

Deduct special deposits in other States, 315,124 00 



Balance, $43,196,889 51 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $35,308,417 00 
Deduct net value of reinsured risks, 1,891 00 



Net reserve, 

Premium obligations in excess of net values of their pol 

Death losses in process of adjustment, . 

Unpaid dividends of surplus due polic}- holders, . 

Premiums paid in advance, 

Due for taxes, fees, salaries, expenses, etc., . 
Agents' bond deposits, 



Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 



$35,306,526 00 

icies, 237,106 15 

162,221 92 

21,752 04 

119,968 16 

127,788 70 

45,184 88 



$36,020,547 85 
315.124 00 

$35,705,423 85 



METROPOLITAN LIFE INSURANCE CO. 101 

Surplus as regards policy holders, . . . $7,491,465 66 

Paid-up capital, $2,000,000 00 

Surplus over capital, 5,491,465 66 

Gross liabilities, $43,196,889 51 

Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $367,669 30 

Premium notes rec'd during 1898 (old policies), 275,218 93 

Total, $642,888 23 

Used in payment of losses and claims, . . $6,563 32 
in purchase of surrendered policies and 

voided by lapse, 141,174 99 

in payment of dividends to policy holders, 36 02 

Redeemed by maker in cash, .... 177 10 

Total, 147,951 43 

Balance note assets Dec. 31, 1898, $494,936 80 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 25,172 $28,686,502 00 

Endowment, . . . 7,252 8,583,030 00 

All other, .... 335 1,856,834 00 

32,759 $39,126,366 00 



Policies issued and revived during the Year. 



Whole life, 
Endowment, 
All other, . 



16,846 $21,275,743 00 

4,990 5,796,819 00 

163 1,391,000 00 



21,999 28,463,562 00 



Total, 54,758 $67,589,928 00 



Policies terminated during the Year. 

Whole life, . . . 6,631 $8,029,972 00 
Endowment, . . . 2,034 2,303,385 00 
All other 89 729,493 00 







8,754 


$11,062,850 00 






How terminated. 


By death, . 


, . 


342 


$374,939 00 


surrender, . 


. 


1,016 


1,216,697 00 


lapse, . 


. 


5,722 


6,714,486 00 


change and deer 


ease, . 


376 


695,550 00 


Not taken, . 


• 


1,298 


2,061,178 00 



8,754 11,062,850 00 



102 



METROPOLITAN LIFE INSURANCE CO. 



Policies in Force Dec. 31, 1898. 



Number. 


Amount. 


Total No. Total Amount. 


Whole life, . . . 35,387 


$41,932,273 00 




Endowment, . . . 10,208 


12,076,464 00 




All other, .... 409 


2,518,341 00 


46,004 $56,527,078 00 






Intermediate policies in force, . 


• . . . 


36,507 18,253,500 00 



Industrial policies in force, 



4,317,274 591,427,272 00 



Schedule A. 

Stocks and Bonds oivned by the Company. 

Cost Value. Market Value. 

1,100 shares Atl'ta & Charlotte Air Line R'y Co., $126,500 00 |132,000 00 

Consolidated stock, city of New York, . . 100,125 00 91,500 00 

300 shares Cinn , Sandusky & Cleveland R.R., 21,750 00 21,750 00 

Dominion of Canada, 247,993 00 246,924 00 

230 shares Frankl'n Trust Co., Br'kl'n, N. Y., 56,480 50 58,650 00 

839 " Hamilt'n Trust Co., Br'kl'n, N. Y., 169,210 00 197,165 00 

295 " Lincoln Traction Co., Nebraska, . 30,240 00 7,375 00 

150 " Metropolitan Trust Co., N. Y., . 45,225 00 48,750 00 

225 " Morris & Essex R.R., . . . 18,675 00 19,687 50 

300 " Northwestern Telegraph Co., . 15,450 00 18,000 00 

441 " N'l Shoe & Leather Bank, N. Y., . 52,282 50 43,218 00 

20 " People's Trust Co , Br'krn, N. Y., 5,015 00 5,200 00 

475 " St. Joseph & Grand Island R'y Co, 30,404 57 19,250 00 

400 " Sharon Railway Co., Sharon, Pa., 21,000 00 24,000 00 

60 " Sioux City, Iowa, Traction Co., . 5,000 00 1,500 00 

165 " Thames N'l B'k, Norwich, Conn., 23,925 00 26,400 00 

2,500 " Twin City Rapid Transit Co , . 290,000 00 295,000 00 

73 " United States Trust Co., N. Y., . 76,725 00 98,550 00 

United States bonds, 165,871 25 183,180 00 

Akron & Chicago Junction R'y bonds, . . 99,750 00 118,500 00 

Atlantic Avenue R.R., Brooklyn, bonds, . . 164,250 00 165,000 00 

Atchison, Topeka & Santa Fe R.R. bonds, . 343,582 50 349,125 00 

Baltimore & Ohio R.R. bonds, .... 125,000 00 124,687 50 

Baltimore Belt R.R. bonds, .... 75,93750 "-.75000 

Brooklyn City R.R. bonds, .... 217,000 00 234,000 00 

Brooklyn Union Gas Co. bonds, . . . 211,000 00 232,000 00 

Baltimore & Ohio Equipment Co. bonds, . . 147,137 50 145,000 00 

Boston Electric Light Co. bonds, . . . 162,250 00 165,000 00 

Belleville & Carondelet R.R. bonds, . . 28,625 00 30,000 00 

Boston Unit'd Gas, Bay State Gas Co., N.J.,Vds, 187,042 50 187,000 00 

Chicago, Milwaukee & St. Paul R R. bonds, . 15,240 00 15,600 00 

Chicago & Indiana Coal Railway bonds, . . 46,218 75 51,250 00 

Chicago & Western Indiana R.R. bonds, . . 77,125 00 79.730 00 

Columbus & Toledo R.R. bonds, . . . 130,667 50 124,740 00 



METROPOLITAN LIFE INSURANCE CO. 



103 



Chicago & Eastern Illinois R.R. bonds, . 
Central R.R. of New Jersey bonds, . 
Chicago, Rock Island & Pacific R'y bonds, 
Central Ohio R.R. bonds, .... 
Cleve., Cin., Chic. & St. Louis R.R. bonds, 
Charleston & Savannah Railway bonds, . 
Columbia & Greenville R.R. bonds, . 
Central Georgia Railway bonds, 
Cleveland, Akron & Columbus Railway bonds 
Cleveland Electric Illuminating Co. bonds, 
Chicago Terminal Transfer R.R. bonds, 
Chesapeake & Ohio Railway bonds, 
Duluth & Iron Range R.R. bonds, . 
Detroit & Mackinac Railway bonds, 
Detroit & Bay City R.R. bonds, 
Dry Dock, E. Broadway & Battery R.R. bonds 
Ellwood Short Line R.R. bonds, 
Edison Elec. Ilium. Co., Brooklyn, N. Y., b'ds 
East Tenn., Virginia & Georgia R.R. bonds, 
Express Coal Line of Georgia bonds, 
Fulton Street, N. Y., R.R. bonds, 
Hannibal & St. Joseph R.R. bonds, . 
Indiana, Decatur & Western Railway bonds, 
Illinois Central R.R. bonds, 
Louisville, New Albany & Chicago R R. b'ds, 
Lake Erie & Western R.R. bonds, . 
Lehigh & New York R.R. bonds, 
Long Island City & Flushing RR. bonds, 
Louisville & Jefferson ville Bridge Co. bonds, 
Louisville & Nashville R.R. bonds, . 
Lincoln Traction Co., Neb., bonds, . 
Minneapolis & St. Louis R.R. bonds, 
Morgan's La. & Texas R R. & S.S. Co. bonds, 
Missouri Pacific Railway bonds, 
Metropolitan Street Railway bonds, 
Mobile & Ohio R.R. bonds, 
Mutual Fuel Gas Co., 111., bonds, 
Northern Illinois Railway bonds, 
New York City Suburban Water Co. bonds, 
Northern Ohio Railway bonds, . 
Nashville, Chattanooga & St. Louis R'y bonds 
North Chicago City Railway bonds, 
New York & East River Gas Co. bonds, . 
Northern Pacific Terminal Co. bonds, 
New York and N. J. Telephone Co. bonds, 
Ohio River R.R. bonds, -. 
Omaha, Neb., Horse R.R. bonds, 
Pacific R.R. of Missouri bonds, 



Cost Value. 

$28,781 25 

430,750 00 

25,875 00 

9,950 00 

16,468 00 

189,375 00 

37,410 00 

45,250 00 

160,875 00 

130,000 00 

306,661 25 

317,937 50 

28,364 16 

60,468 75 

44,985 00 

15,300 00 

23,687 50 

413,937 50 

21,050 00 

56,000 00 

46,875 00 

30,386 25 

186,875 00 

236,250 00 

52,920 00 

247,975 00 

198,796 94 

145,460 00 

94,462 50 

837,225 32 

5,000 00 

158,683 75 

39,450 00 

56,312 50 

365,750 00 

97,000 00 

76,400 00 

26,750 00 

22,875 00 

505,927 96 

198,375 00 

153,750 00 

398,275 00 

154,625 00 

112,750 00 

94,750 00 

15,000 00 

216,700 00 



Market Value. 

$33,500 00 

462,000 00 

26,625 00 

10,850 00 

19,800 00 

195,000 00 

38,940 00 

50,000 00 

153,000 00 

131,250 00 

332,500 00 

323,125 00 

33,015 00 

21,000 00 

42,880 00 

15,300 00 

26,250 00 

423,750 00 

21,600 00 

56,000 00 

48,750 00 

30,500 00 

190,550 00 

240,000 00 

56,840 00 

265,000 00 

201,300 00 

148,700 00 

96,600 00 

849,420 00 

5,000 00 

165,960 00 

45,200 00 

54,750 00 

414,750 00 

106,000 00 

84,000 00 

26,750 00 

10,420 00 

507,500 00 

214,000 00 

157,500 00 

404,245 00 

165,600 00 

113,500 00 

101,000 00 

15,000 00 

234,720 00 



104 



THE MUTUAL LIFE INSURANCE CO. 



Pittsburg & Connellsville R.R. bonds, 
Pittsburg, Cleveland & Toledo R.R. bonds, 

Panama R R. bonds, 

Peoria and Pekin Union R'y bonds, . 
Pittsburg & Western R.R. bonds, . 
Rochester Gas & Electric Co. bonds, 
St. Joseph & Grand Island R'y bonds, 
St. Paul & Northern Pacific R'y bonds, . 
St. Paul City R'y bonds, .... 
St. Louis & Iron Mountain R.R. bonds, . 
St. Louis, Iron Mountain & South. R'y bonds 

St. Paul City R'y bonds 

Savannah, Florida & Western R'y bonds, 
Terre Haute & Indianapolis R.R. bonds, . 
Toledo & Ohio Central R.R. bonds, 
Thirty-fourth St. Cross. R'y, N. Y. city, bonds 
Ulster & Delaware R.R. bonds, 
Utah & Northern R'y bonds, 
Virginia century bonds, . 
Virginia Midland R'y bonds, . 
West Side R.R., Milwaukee, bonds, 
Western Gas Co., Milwaukee, bonds, 
West Chicago Street Railway bonds, 



Cost Value. 

|15,330 00 
45,150 00 

189,410 00 
61,065 00 

472,875 00 

201,897 50 
32,876 68 
58,692 50 
66,500 00 

115,880 00 

338,250 00 

7,000 00 

62,410 00 

25,625 00 

88,244 60 

112,500 00 
99,875 00 

300,000 00 
10,450 00 

249,375 00 
60,525 00 
44,275 00 

224,595 00 



Market Value. 
$ 16,050 00 

46,870 00 

191,760 00 

62,100 00 

486,000 00 

207,000 00 

20,375 00 

66,000 00 

70,000 00 

120,840 00 

338,250 00 

7,000 00 

64,800 00 

26,500 00 

86,000 00 

117,000 00 

100,000 00 

303,750 00 

16,600 00 

260,700 00 

63,600 00 

48,880 00 

224,540 00 



$13,554,225 48 813,953,037 00 



"THE MUTUAL LIFE INSURANCE COMPANY," NEW 

YORK, N. Y. 

[Incorporated April, 1842. Commenced business Feb. 1, 1843.] 

Richard A. McCurdy, President. William J. Eastox, Secretary. 



Income. 

Received for premiums on new policies, . 
Received for renewal premiums, .... 
Dividends applied to purchase paid-up additions, . 
Surrender values applied to pay running premiums, 
Surrender values applied to purchase paid-up insurance, 
Received for annuities, . . 



Total 

Deduct amount paid for reinsurance, 

Total premium income, 
Received for interest, 
Received for rents of company's property, 



15,146,549 34 

29,703,828 91 

2,255,244 85 

758,819 54 

2,107,804 08 

2,371,460 87 

$42,343,707 59 
24,959 08 

842,318,748 51 

. 10,446,681 53 

980,760 23 



THE MUTUAL LIFE INSURANCE CO. 



105 



Profit on securities sold, . 
Mortuary bond deposits, . 
Profit and loss account, . . . 

Total income, 
Net or ledger assets Dec. 31, 1897, 



Total, 



. $1,183,823 71 

69,740 00 

6,875 45 

855,006,629 43 

238,195,206 75 

$293,201,836 18 



Disbursements. 

Paid for losses and additions, 

Paid for matured endowments and additions, . 

Gross amount paid for losses and endowments, 

Paid to annuitants, 

Cash dividends applied to purchase paid-up additions, 

Surrender values paid in cash, 

applied to pay running premiums, 
applied to purchase paid-up insurance, 

Total paid policy holders, 

Cash paid for commissions and bonuses to agents (new poli- 
cies, $3,595,998.44 ; renewals, $1,880,785.40), 

for salaries and allowances to managers and agents 

for medical examiner's fees and inspections, . 

for salaries of officers and home office employees 

for insurance taxes, .... 

for internal revenue, 

for taxes on real estate, . 

for State department's examination, 

for rent, 

for advertising, printing, postage, etc., 

for legal expenses, .... 

for real estate expenses (except taxes) , 

for loss on sales of property, . 

for incidentals, .... 

Profit and loss account, 

On account depreciation of real estate, . 



Total disbursements, . 



Balance, 



$13,265,908 00 
. 2,318,461 90 

$15,584,369 90 
. 1,029,992 60 
. 2,255,244 85 
. 3,015,428 38 
. 758,819 54 
. 2,107,804 08 

$24,751,659 35 

5,476,783 84 

1,142,418 95 

427,611 61 

692,847 61 

411,796 32 

30,209 09 

194,067 70 

50,142 28 

175,000 00 

833,222 52 

266,403 95 

427,593 51 

7,331 86 

352,168 09 

5,782 20 

1,565,030 97 

$36,810,069 85 



$256,391,766 33 



Invested in the following: : — 



Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 



$20,604,649 61 

. 68,503,580 90 

. 9,349,500 00 

47,119 00 



106 THE MUTUAL LIFE INSURANCE CO. 

Book value of stocks and bonds owned (schedule B), . $145,667,443 92 

Cash in company's office, 10,656 57 

Cash deposited in bank, . . . . • . . . . 11,610,720 79 

Agents' debit balances, 330,676 25 

Suspense account, 323,442 30 



Total, $256,447,789 34 

Deduct agents' credit balances, etc., 56,023 01 



Total net or ledger assets, as per balance, . . 8256,391,766 33 

Other Assets. 

Interest due, $215,811.62; accrued, $1,856,288.34, . . . 2,072,099 96 

Rents due, $30,259.59; accrued, $73,537.71, .... 103,79730 

Market value of stocks and bonds overbook, .... 15,288,697 41 

New Business. Renewals. 

Uncollected premiums on poli- 
cies in force, .... $35,776 07 $2,465,829 22 

Deferred premiums on policies 

in force, 132,258 80 2,083,154 73 



Total, $168,034 87 $4,548,983 95 

Deduct loading (20 per cent.), . 33,606 97 909,796 79 



Net amount of uncollected and 

deferred premiums, . . $134,427 90 $3,639,187 16 



3,773,615 06 
Total assets, per company's books, .... $277,629,976 06 

Items not admitted. 

Agents' debit balances, $330,676 25 

Suspense account, 323,442 30 

Total, 654,118 55 



Total admitted assets, $276,975,857 51 

Deduct special deposits in other States, 6,427,567 99 



Balance $270,548,289 52 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $231,346,726 00 
Deduct net value of reinsured risks, .... 3,464 00 



Net reserve, .... 
Matured endowments due and unpaid, 
Death losses in process of adjustment, 
Claims resisted by the company, 
Due and unpaid on annuity claims, . 

Total policy claims, . 



$231,343,262 00 

$125,166 42 

636,062 21 

212,796 30 

94,139 97 

1,068,164 90 



THE MUTUAL LIFE INSURANCE CO. 



107 



Premiums paid in advance, 
Due for taxes, fees, salaries, expenses, etc., 
Liability under non-forfeiture clause, 
Mortuary bonds, 



$240,449 78 

24,072 02 

329,004 98 

84,625 00 



Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 

Surplus as regards policy holders, . 
Gross liabilities, 



$233,089,578 68 

6,317,561 26 

$226,772,017 42 

. 43,776,272 10 

$270,548,289 52 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 276,379 $751,392,050 00 

Endowment, . . . 66,088 159,938,419 00 

Allother,. ... 175 580,091 00 

Reversionary additions, . - 23,691,821 00 

342,642 $935,602,381 00 



Whole life, 
Endowment, 
All other, 



Policies issued during the Year. 

. 41,871 $104,939,467 00 

. 9,355 18,380,459 00 

559 1,926,428 00 
51,785 



125,246,351 00 



Old Policies revived and increased. 

Whole life, . . . 1,861 $4,289,001 00 
Endowment, ... 515 978,988 00 

All other, ... 21 70,218 00 

2,397 

Additions by dividends, - 



5,338,207 00 
3,533,734 00 



Total, 



Whole life, 
Endowment, 
All other, 



396,824 $1,069,720,676 00 



Policies terminated during the Year. 

. 30,316 $79,908,526 00 

. 6,467 14,564,313 00 

283 4,750,862 00 





37,066 


$99,223,701 00 




How terminated. 


death, . 


4,360 


$13,328,465 00 


maturity, . 


826 


2,372,108 00 


expiry, 


175 


915,536 00 


surrender, . 


. 4,393 


9,708,959 00 


lapse, . 


27,216 


68,810,705 00 


change and decrease, 


96 


4,087,928 00 



37,066 99,223,701 00 



108 



THE MUTUAL LIFE INSURANCE CO. 



Policies in Force Dec. 31, 1898. 



Whole life, . 
Endowment, . 
All other, 
Reversionary additions, 



Number. Amount. Total No. 

.289,795 $780,711,992 00 

. 69,491 164,733,553 00 

472 1,784,364 00 

23,267,066 00 

359,758 



Total Amount. 



$970,496,975 00 



Schedule A. 
Securities held as Collateral. 



200 shares Consolidated Gas Co., N. Y., . 

55 " Pullman Palace Car Co., 
Central of Georgia R'y bonds, . 

Reading Co. bonds, 

Missouri Pacific R'y bonds, 

Southern R'y bonds, 

700 shares Chicago, Rock Island & Pacific R'y 
200 " Consolidated Gas Co., N. Y., . 
300 " Chicago, Milwaukee & St. Paul R'y 
100 " Northern Pacific R'y, . 
100 " Title Guarantee & Trust Co., . 

80 " Long Island Loan & Trust Co., 

15 " King's County Trust Co., 

25 " New York Mutual Gas Co., . 

75 " Standard Gas Light Co., 
Pittsburg, Cleveland & Toledo R.R. bonds, 
St. Louis, Iron Mtn. & Southern R'y bonds, 
300 shares N. Y., Chicago & St. Louis R.R., 

50 " Metropolitan Street R'y, . 
100 " Chicago & Northwestern R'y, 

200 " Chicago, Milwaukee & St. Paul R'y 
United States Leather Co. bonds, 

Ohio & Mississippi R'y bonds, . 

Southern R'y bonds, 

Union Pacific R.R. bonds, 
12 shares Albany & Susquehanna R.R., . 
52 " Boston & New York Air Line R.R. 

100 " Western Union Telegraph Co., 

100 " Chicago, Milwaukee & St. Paul R'y 
75 " Chicago & Northwestern R'y, 

100 " N. Y. Central & Hudson River R.R. 

New York Central, Michigan Central bonds, 

Clev., Col., Cinn. & Ind. R'y bonds, . 

Texas & Pacific R'y bonds, 

Southern Pacific R.R. bonds, . 

Chicago, Milwaukee & St. Paul R'y bonds, 

Chicago, Milwaukee & St. Paul R'y bonds, 



Market Value. Loaned Thereon. 

$38,000 00 ^ 

8,250 00 

4,550 00 

1,760 00 

5,450 00 

8,320 00 J 
. 78,400 00 n 



* $50,000 00 



38,000 00 ; 



36,000 00 j 
7,700 00 J 
26,200 00^ 
20,000 00 
4,350 00 
7,500 00 \ 
10,125 00 ' 
1,070 00 
1,000 00 
21,000 00^| 
9,500 00 
14,000 00 
24,000 00 
5,750 00 
1,200 00 
12,480 00 
36,000 00 J 
2,400 00^1 
5,460 00 
9,200 00 
12,000 00 
12,500 00 } 
12,100 00 
10,670 00 
1,330 00 
2,100 00 J 
83,300 00 
128,000 00 
128,000 00 



)> 125,000 00 



53,000 00 



> 100,000 00 



50,000 00 



50,000 00 
100,000 00 
100,000 00 



THE MUTUAL LIFE INSURANCE CO. 



109 



Chicago, Milwaukee & St. Paul R'y bonds, 

300 shares American Telegraph & Cable Co., 

Chicago Gas Light & Coke Co. bonds, 

400 shares Canadian Pacific R'y, 

600 " Northern Pacific R'y, 

125 " Union Pacific R.R., . 

Georgia Pacific R'y bonds, 

New York Central, Lake Shore R.R. bonds, 

Missouri, Kansas & Texas R'y bonds, 

600 shares Chic, Rock Island & Pacific R'y, 

Tenth & 23d St. Ferry bonds, . 

Chic, St. Paul, Minn. & Omaha R'y bonds, 

U. S. Mortgage & Trust Co. bonds, . 

Atchison, Topeka & Santa Fe R'y bonds, 

San Antonio & Aransas Pass. R'y bonds, 

Chicago, Rock Island & Pacific R'y bonds, 

Frank Jones Brewing Co. bonds, 

100 shares Manufacturers' Nat. Bank, N. Y., 

125 " Ninth Avenue R.R , 

50 " Nassau National Bank, Brooklyn, 
Texas & Pacific R'y bonds, 
Virginia Midland R'y bonds, . 
Missouri Pacific R'y bonds, 
Rio Grande Western R'y bonds, 
Chicago, Milwaukee & St. Paul R'y bonds, 
500 shares Consolidated Gas Co , N. Y., . 
500 " Chicago & Northwestern R'y, 
Central of Georgia R'y bonds, . 
200 shares Chicago, Burlington & Quincy R.R. 
Western Union Telegraph Co. bonds, 
Burl., Cedar Rapids & Nor. R'y bonds, . 
Louisville, New Albany & Chicago R'y bonds, 
Chesapeake & Ohio R.R. bonds, 
200 shares Chicago, Milwaukee & St. Paul R'y, 
100 " Chic, St. Paul, Minn. & Omaha R'y, 
Chesapeake & Ohio R.R. bonds, 
350 shares N. Y. Central & Hudson River R.R., 
Milwaukee & Northern R.R. bonds, 
Milwaukee, Lake Shore & Western R'y bonds, 
Canada Southern R'y bonds, . 
Erie R'y bonds, 

60 shares Wagner Palace Car Co., . 

37 " Farmers' Loan & Trust Co., . 
100 " Chicago, Rock Island & Pacific R'y, 
100 " Canada Southern R'y, . 
100 " Chicago, Milwaukee & St. Paul R'y, 
Canada Southern R'y bonds, . 
Escanaba & Lake Superior R'y bonds, 
Detroit, Monroe & Toledo R.R. bonds, . 



Market Value. 

$158,000 00 

27,000 00 

105,000 00 

34,000 00^ 

46,200 00 

8,750 00 
38,720 00 
19,800 00 

4,550 00 J 
67,200 00^1 
10,500 00 

4,050 00 
12,000 00 

1,920 00 
40,000 00 J 
309,000 00 
494,991 00 

7,500 00^ 
22,500 00 i 
13,750 00 ) 
51,230 00 ? 
11,000 00 S 
37,060 00^ 

9,900 00 i 
14,220 00 ) 
95,000 00 n 
70,000 00 i 
15,470 00 ) 
24,800 00^1 
10,000 00 j 

6,360 00 [ 

9,200 00 ! 
11,600 00 J 
24,000 00 
16,500 00 
35,600 00 
42,350 00^1 

7,200 00 j 

4,050 00 [ 

5,500 00 j 

7,100 00 J 
10,500 00^1 

9,250 00 
11,200 00 

5,500 00 
12,000 00 
11,000 00 
10,600 00 

5,100 00 J 



Loaned Thereon. 

f 100,000 00 
100,000 00 



)> 125,000 00 



100,000 00 

250,000 00 
350,000 00 

25,000 00 
50,000 00 
50,000 00 

150,000 00 



50,000 00 



} 



50,000 00 



50,000J00 



I- 50,000 00 



110 



THE MUTUAL LIFE INSURANCE CO. 



300 shares Chicago, Rock Island & Pacific R'y 
100 " Consolidated Gas Co., N. Y., . 
100 " N. Y. Central & Hudson River R.R. 
500 " Chicago, Milwaukee & St. Paul R'y 

20 " Clev., Cinn., Chic. & St. Louis R'y 
200 M Canada Southern R'y, . 

10 " Rome, Watert'n & Ogdensb'g R.R. 

17 " Illinois Central R.R., 
200 " Chicago, Rock Island & Pacific R'y 

37 " Farmers' Loan & Trust Co., . 

40 " Wagner Palace Car Co , . 

50 " N. Y. Central & Hudson River R.R. 
Missouri, Kansas & Texas R'y bonds, 
Canada Southern R'y bonds, 
Tennessee Coal & Iron Co. bonds, . 
100 shares Consolidated Gas Co., N. Y., . 
100 " Canada Southern R'y, . 
550 " Chicago, Rock Island & Pacific R'y 
100 " Chicago, Milwaukee & St. Paul R'y 
150 " N. Y. Central & Hudson River R.R. 
600 " N. Y. Central & Hudson River R.R. 
200 " Chicago, Burlington & Quincy R.R. 
100 " Chicago, Milwaukee & St, Paul R'y 
New York Central R.R. bonds, 

200 shares Pullman Palace Car Co., 

100 " Consolidated Gas Co., N. Y., 

100 " Chicago, Mil. & St. Paul R'y, 
1,200 " Chicago, Burl. & Quincy R.R., 

900 " Chic, Rock Island & Pacific R'y, 

120 " N. Y. Cent. & Hudson River R.R. 
Jackson Co., Mo., bonds, . 
Wilson Co., Kan., bonds, . 
Shawnee Co , Kan., bonds, 
Cloud Co., Kan., bonds, 
Coffey Co., Kan., bonds, . 
Ottawa Co., Kan., bonds, . 
Morris & Essex R.R. bonds, 
3,000 shares Del., Lackawanna & West. R.R., 
3,000 " Central R.R. of N. J., . 
Spring Brook Water Supply[Co. bonds, . 
Lex. Ave. & Pavonia Ferry R'y bonds, . 
Louisville & Nashville R.R. bonds, . 
Chicago, St. Paul, Minn. & Omaha R'y bonds 
Pitts , Cinn., Chic. & St. Louis R'y bonds, 
50 shares Bond and Mortgage Guarantee Co. 
75 " Title Guarantee and Trust Co., 
10 " N. Y., New Haven & Hart. R.R., 
100 " Central Trust Co., . 
50 " Frauklin Trust Co., 



Market Value. 

$33,600 00 
19,000 00 
12,100 00 , 
60,000 00 ) 
1,900 00^1 
11,000 00 
1,250 00 
1,938 00 
22,400 00 
9,250 00 }> 
7,000 00 
6,050 00 
910 00 
7,700 00 
4,000 00 
19,000 00^| 
5,500 00 | 
61,600 00 f 
16,100 00 | 
18,150 00 J 
72,600 00 x 
24,800 00 < 
12,000 00 J 
19,800 00 J 
30,000 00 n 
19,000 00 V 
16,100 00 ) 
148,800 00 n 
100,800 00 > 
14,520 00 ) 
5,250 00^ 
3,330 00 
2,000 00 
9,040 00 
4,360 00 
8,050 00 J 
14,000 00 
225,000 00 n 
291,000 00 i 
135,000 00 ) 
12,000 00^| 
27,440 00 I 

!J 

10,000 00 

19,650 00 

1,970 00 

126,500 00 

12,500 00 



Loaned Thereon. 



1100,000 00 



9,450 00 
5,700 00 



50,000 00 



100,000 00 

100,000 00 

50,000 00 
200,000 00 

}> 25,000 00 

9,000 00 
500,000 00 

45,000 00 

25,000 00 
105,500 00 



THE MUTUAL LIFE INSURANCE CO. 



Ill 



200 shares Chic, St. Paul, Minn. & Omaha R'y, 

150 " American Express Co., . 

Northern Pacific R'y bonds, 

600 shares Chic. & Northwestern R'y, 

150 " Pullman Palace Car Co., 

N. Y. & New England R.R. bonds, . 

400 shares Western Union Telegraph Co 

200 " Northern Pacific R.R., . 

200 " Manhattan R'y, 

150 " Canada Southern R'y, . 

N. Y. Cent. & Hudson River R.R. bonds, 

Chic, Burl. & Quincy R.R. bonds, . 

N. Y. Cent. & Hudson River R.R. bonds 

600 shares Northern Pacific R'y, 

300 " Manhattan R'y, 

100 " St. Louis & San Francisco R.R., 

200 " Pennsylvania R.R., . 

100 " Consolidated Gas Co., N. Y., 

Metropolitan Elevated R'y bonds, . 

300 shares First National Bank, N. Y., 
3,000 " Central R.R. of N. J., . 
Savannah, Florida & West. R.R. bonds, 
Southern Pacific R R. bonds, . 
San Antonio & Aransas Pass. R'y bonds, 
Texas & New Orleans R.R. bonds, . 
Galveston, Harrisburgh & San Ant. bonds, 
1,500 shares Manhattan St'ge & Wareh'se Co. 
Southern R'y, Memphis Div., bonds, 

700 shares Manhattan St'ge & Wareh'se Co. 
4,000 " Clearfield & Mahoning R'y, 

100 " Chicago, Burl. & Quincy R.R., 
Long Island Ferry bonds, 
Union Pacific R.R. bonds, 
Atch., Topeka & Santa F6 bonds, 
Reading Co. bonds, .... 
Northern Pacific R'y bonds, 
Illinois Central R.R. bonds, 
1,700 shares Metropolitan Street R'y, 

100 " Chicago, Mil. & St. Paul R'y 
Brooklyn Ferry bonds, 
Atch., Topeka & Santa F6 R'y bonds, 
Union Pacific R.R. bonds, . 
200 shares Chicago & Northwestern R'y, 



50 
400 
200 
700 
600 
850 



Chicago, Burl. & Quincy R.R 
Metropolitan Street R'y, . 
Chic, St. Paul, Minn. & Omaha R'y 
Chicago, Mil. & St. Paul R'y, 
Chicago, Rock Island & Pacific R'y 
Metropolitan Street R'y, . 



Market Value. 

$18,000 00 \ 
21,000 00 S 
85,000 00 ) 
84,000 00 -s 
22,500 00 i 
17,700 00 ) 
36,800 00 >j 
15,400 00 
19,400 00 
8,250 00 }> 
35,100 00 
11,700 00 

2,040 00 J 
46,200 00 ^ 
29,100 00 
6,500 00 
12,000 00 
19,000 00 | 
13,000 00 J 
840,000 00 ) 
291,000 00 S 
146,400 00 
330,000 00 >| 



Loaned Thereon. 



$100,000 00 



100,000 00 



160,000 00 ', 



154,500 00 i 
190,000 00 J 
150,000 00 ) 
105,000 00 S 
70,000 00 ) 
220,000 00 S 
12,400 00^ 
9,500 00 i 
10,000 00 ) 
3,840 00 >| 
13,200 00 I 
5,000 00 . 
10,200 00 J 
323,000 00 ^ 
12,000 00 I 
45,000 00 [ 
54,600 00 | 
200,000 00 J 
28,000 001 
6,200 00 
76,000 00 
18,000 00 
84,000 00 
67,200 00 J 
161,500 00 



100,000 00 



j> 100,000 00 

300,000 00 
100,000 00 



}> 500,000 00 



200,000 00 
200,000 00 

25,000 00 
25,000 00 



500,000 00 



)> 200,000 00 



125,000 00 



112 



THE MUTUAL LIFE INSURANCE CO. 



200 shares Chicago, Mil. & St. Paul R'y, . 

200 " Metropolitan Street R'y, . 

500 " Chicago, Burl. & Quincy R.R., 

100 " Union Pacific R'y, . 

400 shares Northern Pacific R'y, 

200 " St. Louis & San Francisco R.R., 

100 " Canada Southern R'y, . 

N. Y. Cent. & Hudson River R.R. bonds, 

N. Y. & Harlem R.R. bonds, . 

Forty-second St., Man. & St. Nich. Ave. bonds 

Burl., Cedar Rapids & Nor. R.R bonds, . 

Rome, Watertown & Ogdensburg R.R. bonds, 

Cincinnati & Springfield R.R. bonds, 

Chicago, Burl. & Northern R.R. bonds, . 

150 shares Central Trust Co., . 

Pitts., Cin., Chic. & St. Louis R'y bonds, . 

Clev., Col., Cin. & Ind. R.R. bonds, . 

Union Pacific R.R. bonds, 

200 shares Western Union Telegraph Co., 

100 " Northern Pacific R'y, 

Reading Co bonds, 

Pacific of Mo. R.R. bonds, 

Atch., Topeka & Santa Fe R.R. bonds, . 

Illinois Central R.R. bonds, 

11,237 shares Dry Dock, E. B'd'y & Batt'y R.R 

100 shares Consolidated Gas Co., N. Y., . 

300 " Chicago, Burl. & Quincy R.R., 

Richmond & Danville R.R. bonds, . 

Southern Railway bonds, 

Atchison, Topeka & Santa Fe R.R. bonds, 

Chicago & Northwestern Railway bonds, 

Texas & Pacific Railway bonds, 

600 shares Chicago, Burl. & Quincy R.R , 
1,000 " Chicago, Mil. & St. Paul R'y, 
300 " Chicago & Alton R.R., 
400 " Union Pacific R.R., 
Atchison, Topeka & Santa Fe R.R. bonds, 
Wabash R.R. bonds, .... 

Southern Pacific R.R. bonds, . 
105 shares N. Y. Cent. & Hudson River R.R., 
100 " Delaware & Hudson Canal Co., 
200 " Nashville, Chat. & St. Louis R'y, 
200 " Consolidated Gas Co., N. Y., . 

30 " Chicago, Mil. & St. Paul R'y, . 
Atchison, Topeka & Santa Fe R.R. bonds, 
Michigan Central R.R. bonds, . 
Evansville & Terre Haute R.R. bonds, . 
Chicago, Burl. & Quincy R.R. bonds, 
Northern Pacific Railway bonds, . , 



100,000 00 



Market Value. Loaned Thereon. 

$24,000 00 >| 

SSS oo \ <-•- *<> 

7,000 00 J 

30,800 00 ) 

13,000 00 | 

5,500 00 }> 

54,690 00 I 

22,050 00 J 

5,800 00^ 

3,240 00 j 

9,100 00 )> 

5,400 00 I 

5,000 00 j 

189,750 00 

34,200 00 ^ 

46,550 00 > 

45,000 00 ) 

18,400 001 

7,700 00 

44,000 00 

34,650 00 

19,200 00 

9,500 00 J 

2,247,400 00 

19,000 00 

37,200 00 

5,250 00 

5,100 00 \ 

4,800 00 ' 

23,600 00 

5,450 00 

74,400 00^ 

120,000 00 

49,500 00 

28,000 00 } 

39,000 00 ' 

52,200 00 

10,500 00 

12,705 00 ^ 

10,700 00 

13,000 00 

38,000 00 

4,830 00 

11,520 00 

5,550 00 

4,500 00 

11,700 00 j 

13,800 00 J 



22,000 00 

140,000 00 
100,000 00 

'} 100,000 00 
1,850,000 00 

75,000 00 



300,000 00 



y 100,000 oo 



THE MUTUAL LIFE INSURANCE CO. 



113 



400 shares Chicago, Burl. & Quincy R.R., 
100 " Metropolitan Street R'y, . 
Union Pacific Railway bonds, . 

Erie R.R. bonds, 

Central Crosstown R.R. bonds, 

Oregon Short Line R.R. bonds, 

Scioto Valley & New England R.R. bonds, 

2,000 shares Morris & Essex R.R., . 

Chic. Junction & Union Stock Y'ds R'y bonds 

Central R.R. of N. J. bonds, 

Michigan Central R.R. bonds, . 

Consumers' Gas Co. of Chicago bonds, . 

Morris & Essex R.R. bonds, 

Central of Ga. R'y bonds, .... 

Erie R.R. bonds, 

Chic. & Northwestern R'y bonds, 

N. Y. Cent. & Hudson River R.R. bonds, . 

Atch., Topeka & Santa Fe R.R. bonds, . 

Reading Co. bonds, 

20 shares Consolidated Gas Co., N. Y., . 

Erie R.R. bonds, 

Warren R.R. bonds, 

Wabash R.R. bonds, 

N. Y., New Haven & Hart. R.R. bonds, . 
Erie R.R. bonds, 



Market Value. Loaned Thereon. 

$49,600 00 ^ 
19,000 00 
13,000 00 

4,550 00 )> $100,000 00 
16,100 00 
26,000 00 

4,750 00 J 
175,000 00 >! 

5,700 00 

5,750 00 
44,400 00 

6,000 00 
25,200 00 | 
29,120 00 
25,560 00 
24,250 00 

4,950 00 I 

9,600 00 I 

8,800 00 ) 

3,800 001 
15,620 00 
23,000 00 
11,200 00 

3,320 00 

3,000 00 



}> 300,000 00 



} 50,000 00 



$12,974,229 00 $9,349,500 00 



1,688 shares 


1,000 


ii 


148 


it 


50 


ii 


718 


ii 


1,116 


it 


1,000 


it 


30 


it 


269 


ii 


9,414 


li 


590 


(i 


1,000 


II 


1,903 


li 


582 


II 


1,115 


u 


3,640 


ii 


5,162 


M 


10,500 


II 



Schedule B. 
Stocks and Bonds owned by the Company. 

Book Value. Market Value. 

American Exchange Nat'l B'k, $258,371 53 $285,558 96 

Atlantic Trust Co., . . . 175,500 00 140,000 00 

Bank of America, . . . 47,695 07 54,316 00 

Bank of New Amsterdam, . 9,637 50 13,000 00 

Brooklyn Trust Co , . . . 284,163 85 287,034 86 

Central Trust Co., . . . 1,116,284 89 1,411,740 00 

Fifth Avenue Trust Co., . . 200,000 00 250,000 00 

First National Bank, . . 83,450 00 84,199 80 

Gallatin National Bank, . . 42,142 80 42,546 39 

Guaranty Trust Co., . . . 1,200,181 33 3,822,084 00 

Lawyers' Title Insurance Co., . 87,502 25 88,730 10 

Morristown Trust Co., . . 250,000 00 250,000 00 

National Bank of Commerce, . 366,055 46 388,212 00 

National Park Bank, . . 197,41150 206,610 00 

National Safe Deposit Co., . 111,315 63 111,315 63 

National Union Bank, . . 444,115 00 855,400 00 

Title Guarantee & Trust Co., . 1,157,294 69 1,352,444 00 

U. S. Mortgage & Trust Co., . 1,312,500 00 2,399,250 00 



114 



THE MUTUAL LIFE INSURANCE CO. 



100,000 shares Brooklyn City R.R., . 
4,500 " Chicago & Northwestern R'y, 
13,000 " Chic., Mil. & St. Paul R'y, 
10,980 " Cleveland & Pittsburgh R.R., 
2,000 " Connecticut River R.R., . 
1,000 " Georgia Railroad & Bank'g Co 
1,000 " Illinois Central R.R., 
350 " Massawippi Valley R'y, . 
10,000 " Morris & Essex R.R., 
9,085 " New York & Harlem R.R., 
5,000 " N. Y. Cent. & Hud'n River R.R 
15,000 " N. Y., New Haven & Hart. R.R 
30,000 " Pennsylvania R.R., . 
5,300 " Pitts., Ft. Wayne & Chic. R'y, 
5,000 " Pitts., McK't & Youghi'ny R.R 
8,000 " Rensselaer & Saratoga R.R., 
2,000 " Sixth Avenue R.R., . 

274 " United N. J. R.R. & Canal Co 
15,500 " Worcester, Nash. & Roch. R.R 

United States bonds, 

Austrian government rentes, 

British government consols, 

Cape of Good Hope government stock, 

Canadian government bonds, . 

Italian government rentes, 

Prussian government consols, . 

South Australian government stock 

Tasmanian government stock, . 

Transvaal government bonds, . 

Victorian government stock, . 

Arizona territory bonds, . 

Minnesota bonds, 

Province of New Brunswick bonds, 

Province of Nova Scotia bonds, 

Tennessee bonds, 

Virginia bonds, 

Atchison County, Kan., bonds, 

Butler County, Ohio, bonds, 

Chatham County, Ga , bonds, 

Douglas County, Neb , bonds, 

Franklin County, Ohio, bonds, 

Hamilton County, Tenn., bonds, 

Hudson County, N. J., bonds, . 

Kent County, Mich., bonds, 

Lucas County, Ohio, bonds, 

Otter Tail County, Minn., bonds, 

Sedgwick County, Kan., bonds, 

Vanderburgh County, Ind., bonds, 



Book Value. 

$1,813,519 15 

626,803 00 

1,689,418 63 

893,174 94 

493,000 00 

194,532 20 

103,438 89 

35,000 00 

816,170 03 

892,929 45 

568,808 61 

2,661,703 78 

1,677,393 74 

877,059 72 

303,350 00 

1,422,222 22 

345,751 44 

60,408 78 

2,015,000 00 

571,830 00 

713,028 06 

99,422 81 

48,977 59 

153,240 00 

687,824 15 

663,174 11 

25,479 84 

24,350 00 

99,883 70 

24,250 00 

15,030 00 

100,035 00 

219,204 75 

409,192 50 

2,381,600 00 

623,000 00 

122,080 20 

45,366 50 

61,943 40 

59,206 40 

135,245 80 

205,700 00 

1,074,660 00 

20,004 00 

3,008 70 

49,728 00 

255,185 00 

103,530 00 



Market Value. 

$2,420,800 00 

817,605 00 

2,097,680 00 

974,914 20 

530,000 00 

196,820 00 

113,670 00 

35,728 00 

892.500 00 

1,589,875 00 

604,150 00 

2,955,000 00 

1,806,300 00 

947,375 00 

345,000 00 

1,472,000 00 

403,500 00 

70,555 00 

2,015,000 00 

578,080 00 

700,300 50 

106,166 00 

52,109 00 

153,240 00 

746,750 20 

663,174 11 

25,479 84 

24,350 00 

99,883 70 

24,250 00 

15,030 00 

100,000 00 

219,540 00 

409,192 50 

2,612,000 00 

800,000 00 

122,325 00 

46,933 00 

66,396 00 

62,147 00 

187,207 70 

208,460 00 

1,177,210 00 

20,012 00 

3,018 30 

49,728 00 

259.785 00 

107,332 50 



THE MUTUAL LIFE INSURANCE CO. 



115 



Wells County, Ind., bonds, 

Woodbury County, Iowa, bonds, 

Atlanta, Ga., bonds, . 

Augusta, Ga., bonds, 

Brooklyn, N. Y., bonds, . 

Cedar Rapids, Iowa, bonds, 

Colorado Springs, Col., bonds, 

Duluth, Minn , bonds, 

Elizabeth, N. J., bonds, 

Evansville, Ind., bonds, 

Guelph, Ont., bonds, 

Hyde Park, 111., bonds, 

Jackson, Mich., bonds, 

Jersey City, N. J., bonds, 

Joliet, 111., bonds, 

Lake, 111., bonds, 

Lincoln, Neb , bonds, 

Memphis, Tenn., bonds, 

Montreal bonds, 

Nashville, Tenn , bonds, 

Omaha, Neb., bonds, 

Orange, N. J., bonds, 

Ottawa, Canada, bonds, 

Portland, Ore., bonds, 

Richmond, Va , bonds, 

St. Paul, Minn., bonds, 

Salt Lake City bonds, 

San Antonio, Tex., bonds, 

San Francisco, Cal., bonds, 

Seattle, Wash., bonds, 

Stillwater, Minn., bonds, . 

Toronto, Can , bonds, 

Albany & Susquehanna R.R. bonds, 

Atchison, Topeka & Santa Fe Railway bonds, 

Atlanta & Charlotte Air Line Railway bonds, 

Baltimore & Ohio R.R. bonds, . 

Bangor & Aroostook R.R. bonds, 

Bleecker Street & Fulton Ferry R.R. bonds, 

Broadway & Seventh Avenue R.R. bonds, 

Brooklyn, Queen's Co. & Sub. R.R. bonds, 

Burlington & Missouri River R.R. bonds, 

Cedar Rapids, la. Falls & Northw'n R'y b'ds, 

Central of Georgia Railway bonds, . 

Central Park, N & E River R.R. bonds, . 

Charlotte, Columbia & Augusta R.R. bonds, 

Chateaugay Railway bonds, 

Chesapeake & Ohio Railway bonds, 

Chicago & Eastern Illinois Railway bonds, 



Book Value. 

$97,903 41 

125,000 00 

90,450 00 

186,911 20 

104,240 00 

45,279 00 

60,894 00 

51,535 00 

463,250 00 

438,920 00 

130,923 38 

51,675 00 

66,781 00 

766,722 21 

50,755 00 

10,018 00 

99,120 00 

832,133 00 

576,260 00 

372,810 50 

217,324 00 

58,500 00 

41,720 00 

641,132 00 

10,871 20 

386,740 00 

255,375 00 

100,000 00 

38,411 45 

514,500 00 

30,741 50 

460,926 30 

211,519 98 

5,295,600 00 

466,789 80 

75,000 00 

490.400 00 
66,222 00 

1,868,400 00 
840,162 60 

1,023,262 20 
153,698 00 

2,899,300 00 

122.401 80 
285,670 10 
213,820 00 
424,350 00 

50,970 00 



Market Value. 

$98,823 30 

125,000 00 

100,116 00 

200,565 20 

106,720 00 

45,279 00 

61,512 00 

54,095 00 

487,500 00 

471,360 00 

140,143 68 

52.825 00 
69,316 00 

858,985 00 

53,120 00 

10,205 00 

100,000 00 

876,712 00 

590,244 31 

411,433 00 

227,035 50 

58,560 00 

43,532 00 

682,660 00 

11,000 00 

428,677 50 

274,675 00 

100,000 00 

38,746 40 

493,440 00 

31,445 50 

461,000 00 

213,317 90 

5,700,000 00 

494,103 30 

75,000 00 

510,000 00 

66.826 50 
2,415,600 00 

930,600 00 

1,023,262 20 

155,400 00 

3,396,700 00 

125,742 00 

293,232 20 

221,160 00 

437,500 00 

57,000 00 



Ill) 



THE MUTUAL LIFE INSURANCE CO. 



Chicago & Indiana Coal Railway bond-. . 
Chicago & Northwestern Railway bonds, 
Chicago & St. Louis Railway bonds, 
Chicago, Burlington & Quincy R.R. bonds, 
Chicago, Milwaukee & Northwestern R'y b'ds 
Chicago, Milwaukee & St. Paul R'y bonds, 
Chic, Rock Island & Pacific R'y bonds, . 
Chic, St. Paul, Minn. & Omaha R'y bonds, 
Christopher & Tenth St. Ferry R.R. bonds, 
Cincinnati & Springfield R'y bonds, 
Cinn , Hamilton & Dayton R'y bonds, 
Cinn., Indianapolis, St. Louis ft Chic. R'y bonds 
Cinn., Sandusky & Cleveland R.R. bonds, 
Cleve., Cinn., Chic. & St. Louis Ry bonds, 
Clevc, Col., Cinn. & Indianapolis R'y bonds, 
Cleve., Lorain & Wheeling R'y bonds, . 
•Columbia & Greenville R.R. bonds, 
Columbus & Hocking Valley R.R. bonds, 
Columbus & Toledo R.R. bonds, 
Columbus Consolidated Street R.R. bonds, 
Dakota Central R'y bonds, 
Detroit, Grand Rapids & Western R.R. bonds 
East Tenn., Virginia & Georgia R'y bonds, 
Eastern R'y of Minnesota bonds, 
Elgin, Joliet & Eastern R'y bonds, . 
Elmira, Cortland & Northern R.R. bonds 
Erie R.R. bonds, .... 
Erie Railway bonds, .... 
Evansville & Terre Haute R.R. bonds, 
Fargo & Southern R'y bonds, . 
Fremont, Elk Horn ft Mo. Valley R.R. bonds, 
Galveston, Harrisburgh & San Antonio R'y b'ds, 
Georgia Pacific Ry bonds, 
Georgia R R. & Banking Co. bonds, 
Hannibal & St. Joseph R.R. bonds, . 
Ind., Bloomington & Western R'y bonds 
Indianapolis & St Louis Ry bonds, 
Indiana, Decatur & Western R'y bonds, 
Kan. City, St. Jos. & Council Bluffs R.R. b'ds 
Lake Erie ft Western R.R. bonds, . 
Lake Shore & Mich. Southern R'y bonds 
Long Island R.R. bonds, . 
Louisville & Nashville R.R. bonds, . 
Metropolitan Elevated R'y bonds, . 
Metropolitan Street R'y bonds, 
Milwaukee & Northern R.R. bonds, 
Milwaukee City R.R. bonds, 
Milwaukee, Lake Shore & Western R'y bonds, 



Book Value. 

$99,000 00 
5,494,504 80 

95,253 60 

3,080,911 90 
109,910 00 

4,089,746 90 

3,287,680 00 
595,265 00 
197,580 00 
272,677 60 
364,586 00 
376,555 20 
517,950 00 
445,000 00 
303,872 30 
234,400 00 
174,298 80 
20,000 00 
215,240 00 
158,424 00 
845,616 00 
209,332 91 
479,998 40 
512,050 00 

1,022,500 00 
147,375 00 
905,209 96 
373,770 00 
282,450 00 
263,354 40 
321,441 30 
144,344 *80 
171,945 00 

1,000,000 00 
658,260 00 
146,943 80 
442,840 00 
204,089 58 
523,920 00 
250,000 00 

2,011,913 90 

497,300 00 

500,000 00 

83,010 00 

1,045,000 00 

798,710 70 

61,907 00 

196,340 00 



Market Value. 

$101,000 00 

3,815,20" 
103,4£0 

3,307,900 10 
111,80- 

4,482,345 40 

3,287. 3 

I (JO 
197,58' 

^,997 40 
394,571 00 
395,920 00 
540,250 00 
487,500 00 
360,159 00 
257,500 00 
181,568 40 
20,000 00 
228,200 00 
170,806 00 
904,708 00 
262,500 00 
489,894 70 
520,000 00 

1,022,500 00 
165,870 00 
905,209 96 
420,000 00 
294,825 00 
307,009 80 
359,008 20 
139,507 40 
182,040 00 

1,090,000 00 
708,360 00 
149,000 00 
532,960 00 
200,000 00 
571,757 50 
291,800 00 

2,080,000 00 

512,500 00 

560,000 00 

86,760 00 

1,140,000 00 

880,687 50 

64,455 20 

230,940 00 



THE MUTUAL LIFE INSURANCE CO. 



117 



Minneapolis & St. Louis Railroad bonds, 

Minneapolis Street Railway bonds, . 

Mobile & Ohio R.R. bonds, 

Morgan's Louisiana & Texas R.R. bonds, 

Nashville & Decatur R.R. bonds, 

Nashville, Chattanooga & St. Louis R'y bonds 

New England R R. bonds, 

New York & Canada R.R. bonds, 

New York & New England R R. bonds, . 

New York Central & H. R. R.R. bonds, . 

N. Y„ New Haven & Hartford R.R. bonds, 

Northern Pacific Railway bonds, 

Ocean Steamship Co. bonds, 

Ohio & Mississippi Railway bonds, . 

Oswego & Rome R.R. bonds, . 

Peoria & Pekin Union Railway bonds, 

Philadelphia & Reading R.R. bonds, 

Pittsburgh & Western R.R. bonds, . 

Pittsburgh Junction R.R. bonds, 

Pitts., McKeesport & Youghiogheny R.R. b'ds 

Pittsburgh, Painesville & Fairport R.R. b'ds, 

Richmond & Danville R.R. bonds, . 

Richmond, York R. & Chesapeake R.R. b'ds, 

Rochester & Pittsburgh R.R. bonds, 

Rutland R.R. bonds, 

St. Louis, Iron Mountain & Southern R'y b'ds 

St. Paul & Duluth R.R. bonds, . 

St. Paul & Northern Pacific Railway bonds, 

St. Paul City Railway bonds, . 

Sault Ste. Marie & Southwestern Railway b'ds 

Southern Pacific R.R. bonds, . 

Southern Railway bonds, .... 

South Georgia & Florida R.R. bonds, 

South Side R.R. bonds, .... 

Terminal R.R. Association, St. Louis, bonds, 

Texas & New Orleans R.R. bonds, . 

Union Pacific Railway bonds, . 

Union Railway bonds, .... 

Utah & Northern R'y bonds, . 

Virginia & Tennessee R.R. bonds, . 

Virginia Midland R'y bonds, . 

Wabash R.R. bonds, 

Western R'y of Alabama bonds, 
Wheeling & Lake Erie R'y bonds, . 
Brooklyn & N. Y. Ferry Co. bonds, . 
Brooklyn Union Gas Co. bonds, 
Brooklyn Wharf & Warehouse Co. bonds, 
Duluth Union Depot Co. bonds, 



Book Value. 

$197,640 00 
188,471 70 
290,373 60 
263,325 00 
109,837 20 
739,019 30 

3,668,400 00 

450,000 00 

343,470 00 

11,395,137 64 

1,770,682 47 

2,875,084 80 

493,357 80 

296,322 40 

107,300 00 

71,760 00 

1,010,800 00 
414,650 00 
400,000 00 
702,728 00 
115,309 60 
658,316 00 
620,053 57 
205,939 20 
548,546 00 
362,040 00 
105,160 00 
259,989 30 
295,722 90 
133,798 40 
496,518 60 

1,657,963 73 

135,558 80 

98,061 60 

264,516 80 

612,490 20 

4,443,019 11 
403,487 50 
270,000 00 
130,934 70 
258,175 00 

2,042,400 00 

1,353,375 00 
236,750 00 
111,335 25 

1,093,050 00 

3,126,175 00 
308,250 00 



Market Value. 

$220,716 30 
204,557 40 
322,792 80 
329,925 00 
110,589 80 
784,933 10 

3,944,700 00 

450,000 00 

356,370 00 

11,408,019 16 

2,318,250 00 

3,056,000 00 

506,350 00 

317,100 00 

110,330 00 

71,760 00 

1,010,800 00 
475,000 00 
462,560 00 
702,728 00 
94,400 00 
723,257 00 
589,968 80 
210,783 20 
588,178 00 
367,500 00 
118,120 00 
286,519 40 
346,242 60 
135,500 80 
496,518 60 

1,705,100 00 

136,048 80 

98,848 60 

272,849 60 

662,921 00 

5,000,000 00 
459,280 00 
297,875 00 
131,393 30 
290,425 00 

2,220,000 00 

1,394,820 00 
250,000 00 
114,923 25 

1,197,105 00 

2,925,01)0 00 
308,250 00 



118 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



Elmira Municipal Improvement Co. bonds, 

Equitable Gas Light Co. bonds, . 

Fort Street Union Depot Co. bonds, 

Hoboken Ferry Co. bonds, . 

Jeffersonville & Clearfield C. & I. Co. bonds 

Laclede Gas Light Co. bonds, 

Long Branch Water Supply Co. bonds, 

Metrop. Opera & Real Estate Co. bonds, 

Minneapolis Gas Light Co. bonds, 

Morris Aqueduct Co. bonds, . 

N. Y. & East River Gas Co. bonds, 

Philadelphia Bourse bonds, . 

Sharon Estate Co. bonds, 

U. S. Mortgage & Trust Co. bonds, 

Western Union Telegraph Co. bonds, 



Book Value 

$127,294 33 

1,118,246 00 

51,150 00 

1,000,000 00 

451,900 00 

899,800 00 

100,960 00 

858,245 00 

203,860 00 

65,000 00 

247,500 00 

281,792 50 

1,040,000 00 

4,016,485 85 

1,143,560 00 



Market Value. 

$127,294 33 

1,169,246 00 

51,150 00 

1,097,600 00 

500,000 00 

1,040,000 00 

100,960 00 

866,490 00 

203,860 00 

05,000 00 

274,025 00 

275,000 00 

1,040,000 00 

4,028,274 55 

1,203,200 00 



$145,667,443 92 $160,956,14133 



"THE MUTUAL BENEFIT LIFE INSURANCE COMPANY. 

NEWARK, N. J. 

[Incorporated Jan. 31, 1845. Commenced business April, 1845.] 

Amzi Dodd, President. Edward L. Dobbins, Secretary. 

Income. 

Received for premiums on new policies, .... $1,174,152 93 

Received for renewal premiums, 6,142,986 85 

Dividends applied to pay running premiums, .... 1,142,905 90 

Dividends applied to purchase paid-up additions and annuities, 332,622 91 

Surrender values applied to pay running premiums, . . 15,850 33 
Surrender values applied to purchase paid-up insurance and 

annuities, 243,449 31 

Received for annuities, 106,149 02 

Total, $9,158,117 25 

Received for interest, 3,233,338 04 

as discount on claims paid in advance, . . . 889 39 

for rents of company's property, .... 137,384 58 

Premium notes or loans restored, . . . • . . 12,876 14 

Total income, $12,542,605 40 

Net or ledger assets Dec. 31, 1897, 61,096,824 32 

Total $73,639,429 72 

Disbursements. 

Paid for losses and additions, $3,500,909 41 

for matured endowments and additions, .... 309,798 05 
dn matured instalment policies, ...... 2,550 00 

Gross amount paid for losses and endowments, . . $3,813,257 46 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



119 



Paid to annuitants, 

Premium notes or loans voided by lapse, 
Cash dividends paid policy holders, .... 
applied to pay running premiums, 
applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, . . . . 

applied to pay running premiums, 
applied to purchase paid-up insurance and 
annuities, 

Total paid policy holders, 

Cash paid for commissions and bonuses to agents (new poll 
cies, $514,822.50 ; renewals, $414,410.80), . 

for salaries and allowances to managers and agents 

for medical examiner's fees, .... 

for salaries of officers and home office employees, 

for taxes on premiums, 

for taxes on investments, $137,222.49 ; on reserves, 
$16,147.18 ; internal revenue, $12,509.66, . 

for taxes on real estate, 

for fees, licenses, etc., 

for advertising, printing and postage, . 

for legal expenses, 

for real estate expenses (except taxes), 

for loss on sales of property, .... 

for incidentals, 

Premiums on bonds purchased, 

On account depreciation, 



Total disbursements, 



$51,527 07 

18,795 71 

281,182 50 

1,142,905 90 

332,622 91 

1,361,097 49 

15,850 33 

243,449 31 



$7,260,688 68 

929,233 30 

24,545 72 

104,329 55 

216,477 31 

82,621 52 

165,879 33 

42.349 50 
40,000 22 

56.350 05 
19,822 09 
55,038 86 
10,631 86 
51,735 26 

188,424 87 
50,000 00 



Balance, 



^9,298,128 12 
$64,341,301 60 



Invested in the following : — 

Assets as per Ledger Accounts 

Value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral 

Premium notes or loans on policies in force, . 

Par value of bonds owned (schedule B), 

Cash in company's office, . 

Cash deposited in bank, . 

Agents' debit balances, 



Total, 

Deduct agents' credit balances, 

Total net or ledger assets, as per balance, 



$2,930,514 61 

32,355,960 38 

4,014,500 00 

5,313,566 00 

4,597,822 22 

14,236,817 05 

40,272 04 

831,424 25 

22,568 96 

$64,343,445 51 
2,143 91 

$64,341,301 60 



120 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



Other Assets. 

Interest due, $69,469.87 ; accrued, $1,090,664.70, 
Market value of bonds over par, 



. $1,160,134 57 
899,194 87 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, .... 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

$105,433 38 $222,341 31 
106,654 72 527,372 42 



$212,088 10 $749,713 73 
42,417 62 149,942 75 



$169,670 48 £599,770 98 



Total assets, per company's books, . 



769,441 46 
$67,170,072 50 



Items not admitted. 



Agents 1 debit balances, 
Total admitted assets, 



22,568 96 
$67,147,503 54 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), 
Present value of unpaid instalments, 
Matured endowments due and unpaid, . 
Death losses in process of adjustment, 
Claims resisted by the company, 

Total policy claims, .... 
Unpaid dividends of surplus due policy holders, 
Premiums paid in advance, 
Due for taxes, fees, salaries, expenses, etc., 



Liabilities as to policy holders, . 
Surplus as regards policy holders, . 



Gross liabilities, 



$60,866,778 00 
24,317 56 



$19,375 00 

360,274 57 

26,163 00 




- 405,812 57 

350,840 09 

22,768 47 

20,000 00 

$61,690,516 69 
. 5,456,986 85 

$67,147,503 54 



Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $4,546,901 76 
received during 1898 (new poli- 
cies, $73,450.97 ; old policies, 

$571,882.88), . . . 645,333 85 

restored by revival of policies, 12,876 14 

Total, 



$5,205,111 75 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



121 



Used in payment of losses and claims, . 
Used in purchase of surrendered policies, 

Voided by lapse, 

Used in payment of dividends to policy holders, 

Redeemed by maker in cash, .... 

Total, 

Balance note assets Dec. 31, 1898, 



^127,705 39 

218,510 55 

18,795 71 

7,077 27 

235,200 61 



$607,289 53 



. 14,597,822 22 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

. 67,530 $171,716,691 00 

. 19,973 47,048,766 00 

. 5,235 11,588,345 00 

2,960,027 00 



92,738 $233,313,829 00 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 

. 11,209 $25,034,836 00 
. 2,831 5,959,136 00 
. 1,372 3,119,177 00 



15,412 34,113,149 00 



Whole life, 
Endowment, 
All other, . 



Old Policies revived. 

86 $218,217 00 

23 55,000 00 

2 10,080 00 



111 



283,297 00 



Whole life, 
Endowment, 

Additions by dividends, 



Old Policies increased. 

10 $34,782 00 

29 50,047 00 



39 



84,829 00 
647,137 00 



Total, 108,300 $268,442,241 00 



.Policies terminated during the Year. 

Whole life, . . . 6,894 $15,648,522 00 
Endowment, . . . 1,936 4,101,244 00 
All other, .... 1,586 4,116,893 00 



10,416 $23,866,659 00 



122 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



By death, . 
maturity, 
expiry, 
surrender, 
lapse, . 

Not taken, , 



How terminated. 




Number. 


Amount. Total No. 


Total Amount. 


1,271 


$3,494,444 00 




168 


308,392 00 




1,307 


3,305,229 00 




3,465 


8,596,768 00 




2,135 


3,921,801 00 




2,070 


4,240,025 00 






10,416 


$23,866,659 00 



Policies in Force Dec. 31, 1898. 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



71,941 $181,356,004 00 

20,920 49,011,705 00 

5,023 10,756,666 00 

3,451,207 00 



97,884 244,575,582 00 



Schedule A. 

Securities held as Collateral. 

Market Value. 



Massachusetts State bonds, 
Chic., Rock Island & Pac. R'y Co. bonds, 
New York city bonds, .... 
Oregon Short Line R.R. bonds, 
International & Great North. R.R. bonds, 
Illinois Central R.R. bonds, 
Rio Grande Western R'y bonds, 
Brooklyn Wharf & Warehouse Co. bonds, 
Lehigh Valley R.R. bonds, . . . 
N. Y. & N. J. Telephone Co. bond, . 
South & North Alabama R.R. bond, 
Chesapeake & Ohio R'y bond, . 
Missouri, Kansas & Texas R'y bond, 
Central of Georgia R'y bonds, . 
Brooklyn Rapid Transit Co. bond, . 
United Traction & Electric Co. of R. I. bond, 

Southern R'y bonds, 

Mexican Northern Railway bonds, . 
Carbondale & Shawneetown R.R. bond, . 
Burl., Cedar Rapids & Northern R'y bond, 
Oregon Short Line R.R. bonds, 
95 shares Central R.R. Co of New Jersey, 



400 
70 
76 
10 

100 



Rio Grande Western R'y Co., 
Edison Elec. Ilium. Co. of N. Y., 
Edison Elec. Ulum. Co., Brooklyn 
Chicago & Northwestern R'y Co., 
Union Pacific R.R. Co., . 



I 



Loaned Thereon. 



$100,760 00 

10,600 00 

11,000 00 

6,105 00 >j 

6,440 00 

4,980 00 

9,300 00 

4,650 00 

3,120 00 

1,080 00 

1,030 00 

1,170 00 

910 00 

5,520 00 

1,070 00 

1,110 00 

11,550 00 

2,060 00 

930 00 

1,060 00 

3,900 00 

9,215 00 

26,000 00 

13,370 00 

9,420 00 

1,420 00 

7,400 00 J 



$ 100,000 00 



} 100,000 00 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



123 



Galveston, Harrisb. & San Antonio R.R. bonds, 

Southern Pacific R.R. bonds, . 

St. L., Iron Mountain and So. R'y Co. bonds, 

Central of Georgia R'y Co. bonds, . 

Oregon Short Line R.R. bonds, 

80 shares Chicago & Alton R.R. Co., 

Missouri, Kan. & Texas R'y bonds, . 

Erie R.R. bonds, 

700 shares Metropolitan St. R'y Co. of N. Y., 
245 " Chic, Rock Island & Pac. R'y Co. 
200 " Consolidated Gas Co. of N. Y., 
200 H Chic, Burl. & Quincy R.R. Co., 
250 " Northern Pacific R'y Co., 
Chesapeake & Ohio R'y bonds, 
Central of Georgia R'y bonds, . 
Norfolk & Western R'y bonds, 
Ann Arbor R.R. bonds, .... 
N. Y. Central & Hudson River R.R. bonds, 
300 shares Consolidated Gas Co. of N. Y., 
100 " Metropolitan St. R'y Co. of N. Y. 
100 " Northern Pacific R'y Co., 
Northern Pacific R'y Co. bonds, 
Brooklyn Union Gas Co. bonds, 
Indianap., Bloomington & West. R'y bonds, 
400 shares Lake Erie & Western R.R. Co., 
300 " Great Northern R.R. Co., 
200 " Manhattan R'y Co., 
South Carolina & Georgia R.R. bonds, . 
Texas & Pacific Railway bonds, 
Vicksburgh & Meridan R.R. bonds, 
Colorado Coal and Iron Co. bonds, 
Chic, Burl. & Quincy R.R. bonds, 
City of Mobile, Ala., bond, 
Iowa Central Railway bonds, . 
Fort Worth & Denver City R'y bonds, . 
Oregon R.R. and Navigation Co. bonds, . 
New York & New England R.R. bond, . 
Missouri Pacific Railway bonds, 
1,000 shares Great Northern R.R. Co., 
500 " Chic, Mil. & St. Paul R'y Co., 
87 " Chic, Burl. & Quincy R.R. Co., 
1,000 " Northern Pacific Railway Co., 
500 " Manhattan Railway Co., 
600 " Lake Erie & Western R.R. Co., 
600 " Great Northern R.R. Co., . 
41 " Western Union Telegraph Co., 
400 " Great Northern R.R. Co., . 
200 " Consolidated Gas Co. of N. Y., 
400 " Northern Pacific R'y Co., . 



Market Value. 

$15,000 00 ^ 
16,800 00 
35,700 00 
19,320 00 
33,300 00 
13,600 00 J 
8,800 00 >j 
9,400 00 | 
134,400 00 I 
27,930 00 } 
39,000 00 
25,000 00 
19,250 00 J 
4,500 00^ 
4,600 00 
4,450 00 
2,700 00 
31,680 00 
58,500 00 
19,200 00 
7,700 00 
8,280 001 
29,000 00 
2,000 00 
29,600 00 
43,200 00 
19,400 00 J 
7,140 00 >) 
2,200 00 
2,000 00 
2,000 00 
2,420 00 
800 00 
10,700 00 
4,250 00 
6,000 00 
1,210 00 
1,780 00 
144,000 00 
60,000 00 
10,875 00 
77,000 00 ) 
48,500 00 I 
44,400 00 [ 
86,400 00 J 
3,810 00 J 
57,600 00 
39,000 00 
30,800 00 



Loaned Thereon. 



J> $100,000 00 



200,000 00 



). 100,000 00 



)> 100,000 00 



}> 200,000 00 



} 



200,000 00 



100,000 00 



124 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



Chicago Gaslight and Coke Co. bond, 
100 shares Edison Elec. Ilium. Co. of N. Y., 
400 " No. Pacific R'y Co., . 
100 " Chic, Burl. & Quincy R.R. Co., 
Trenton Water Co., Trenton, Mo., bonds, 
100 shares Essex Co N'l B'k, Newark, N. J 
200 '« Newark C'y N'l B'k, Newark, N.J., 
80 " N'l Newark Bkg. Co., Newark, N.J, 
20 " Second Nat. Bank, Newark, N. J 
83 M Nat. State Bank, Newark, N. J., 
30 " Manufact. N'l B'k, Newark, N. J 
12 " Merchants' N'l B'k, Newark, N. J 
1,248 " American Ins. Co , Newark, N.J 
Newark Gas Co., Newark, N. J., bonds, . 
New Amsterdam Gas Co., N. Y., bonds, . 
83 shares New Amsterdam Gas Co., N.Y., 
New Amsterdam Gas Co., N. Y., scrip, . 
15 shares Mutual Gas Light Co. of N. Y., 
N. Y. Cent. & Hudson River R.R. bonds, 
Missouri, Kan. & Texas R'y bonds, . 
San Antonio & Aransas Pass. R'y bonds, . 
250 shares Chic , Burl. & Quincy R.R. Co., 
100 " People's Gaslight and Coke Co., 
250 " Illinois Central R.R. Co., 
150 " N. Y. Cent. & Hud. River R.R. Co 
Chic. & Northwestern R'y bonds, 

Erie R.R. bonds, 

Houston & Texas Cent. R.R. bonds, 

Des Moines & Fort Dodge R.R. bonds, . 

100 shares Lake Erie & Western R.R. Co., 

Ottumwa, Cedar Falls & St. Paul R'y bond, 

Canada Southern Railway bond, 

400 shares Canada Southern Railway Co., 

100 " Michigan Central R.R. Co., . 

100 " Norfolk & Western Railway Co., 

100 " Metropolitan St. R'y Co. of N. Y., 

500 " Great Northern R.R. Co., 

700 " Chic, Mil. & St. Paul R'y Co., 

Houston & Texas Central R.R. bonds, 

Brooklyn Union Gas Co. bonds, 

270 shares Consolidated Gas Co. of N. Y., 

150 " Pacific Mail Steamship Co., . 

200 " Southern Railway Co., . 

Houston & Texas Central R.R. bonds, . 

Lehigh & Wilkesbarre Coal Co. bonds, . 

Ulster & Delaware R.R. bonds, 

Peoria & Eastern R.R. bonds, . 

N. Y., Susquehanna & Western R.R. bonds, 

400 shares Canada Southern Railway Co., 



Market Value. Loan*:'! Thereon. 

$1,100 oo >| 



19,100 00 ! 



30,800 00 

12,500 00 

20,000 00 

17,500 00>| 

17,500 00 

7,600 00 

2,700 00 

7,260 GO 

4,500 00 

2,520 00 

14,975 00 J 

4,110 00 

7,725 00 

4,110 00 

45 00 I 
4,500 00 J 
4,720 00 
13,600 00 
16,200 00 
31,250 00 
11,000 00 
28,500 00 
18,450 00 J 
7,020 00^1 
7,500 00 I 
10,440 00 [ 
36,000 00 j 
7,400 00 J 
1,090 00^ 
1,110 00 
22,000 00 
11,100 00 
6,300 00 
19,200 00 J 
72,000 00 
84,000 00 
46,650 00^1 
22,040 00 | 
52,650 00 j. 
6,750 00 
8,200 00 j 
3,480 00^ 
3,000 00 
8,000 00 
11,480 00 ! 
16,500 00 | 
22,000 00 J 



} $50,000 00 



7,000 00 



} 45,000 00 



00 

\ 

} 10,000 00 



} 100,000 00 



50,000 00 



} 50,000 00 



100,000 00 



100,000 00 



}► 50,000 00 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



125 



Virginia Midland Railway bonds, . 
Southern Railway bonds, .... 
N. Y. Central & Hudson River R.R. bonds, 
800 shares Canadian Pacific R'y Co., 
100 " N. Y. Cent. & Hud. River R.R. Co. 
N. Y. Central & Hudson River R.R. bonds, 
Des Moines & Fort Dodge R.R. bonds, . 
100 shares Consolidated Gas Co. of N. Y., 
Chesapeake & Ohio Railway bonds, 
South Carolina & Georgia R.R. bonds, . 
Oregon R.R. and Navigation Co. bonds, . 
Central of Georgia R'y bonds, . 
St. Paul, Minn. & Manitoba Railway bond, 
Chic, St. Paul, Minn. & Omaha Railway bond 
1,000 shares Great Northern R.R. Co., 
500 " Oregon R.R. & Navigation Co., 
400 " Norfolk & Western R'y Co., 
200 " Chic, Mil. & St. Paul R'y Co., 
1,300 " Union Pacific R.R. Co., 

500 " Rio Grande Western Railway Co. 
Brooklyn Union Gas Co. bonds, 
Houston & Texas Central R.R. bonds, 
Southern Railway bonds, .... 
100 shares Consolidated Gas Co., N. Y., . 
100 " Laclede Gas Light Co., St. Louis, 
International & Great Northern R.R. bonds, 
Northern Pacific Railway bonds, 

300 shares Chic, Mil. & St. Paul R'y Co., 
1,100 " Union Pacific R.R. Co., ' . 
10 " Illinois Central R.R. Co., . 
100 " Del., Lackawan. & West. R.R. Co 
1,000 " Metropolitan St. R'y Co. of N. Y 
150 " National Union Bank, N. Y., 
200 " Chic, Burl. & Quincy R.R. Co., 
300 " Chic, Rock Island & Pac R'y Co 
United States bonds, .... 
Chic, Rock Island & Pacific R'y bonds, . 
N. Y. Central & Hudson River R.R. bonds, 
St. Paul, Minn. & Manitoba R'y bonds, . 
Illinois Central R.R bonds, 
Chic, Mil. & St. Paul Railway bonds, 
N. Y. Central & Hudson River R.R. bonds, 
Southern Railway bonds, .... 
General Electric Co. bonds, 
700 shares Union Pacific R.R. Co., . 
200 " Canadian Pacific R'y Co., 
500 " Southern Railway Co., . 
100 " N. Y. Cen. & Hud. Riv. R.R. Co., 
Erie R.R. bonds, 



50,000 00 
100,000 00 



300,000 00 



Market Value. Loaned Thereon. 

$6,600 00^1 

16,800 00 I 

19,800 00 j> $100,000 00 

68,000 00 J 

12,300 00 J 

39,600 00 >> 

4,000 00 
19,500 00 
129,600 00 
10,200 00 
15,000 00 
11,800 00 

1,380 00 

1,350 00 
144,000 00 )► 
36,000 00 
25,200 00 
24,000 00 
96,200 00 
32,500 00 J 
19,720 00^ 
13,440 00 I 

2,100 00 [ 
19,500 00 

9,500 00 J 

2,760 00 \ 

2,070 00 
36,000 00 
81,400 00 

1,140 00 

7,850 00 J 
192,000 OO'i 



50,000 00 



} 100,000 00 



36,750 00 
25,000 00 
34,200 00 j 
20,530 00^ 
15,900 00 
59,950 00 
10,260 00 
4,750 00 
9,200 00 J 
12,740 00 ^ 
10,500 00 
4,320 00 
51,800 00 J- 
17,000 00 
20,500 00 
12,300 00 J 
68,250 00 



}> 200,000 00 



y 100,000 00 



100,000 00 



50,000 00 



126 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



Scioto Valley & New England R.R. bonds, 

Wabash R R. bonds, 

Missouri Pacific Railway bonds, 

Atchison, Topeka & Santa Fe R'y bonds, 

Central of Georgia Railway bonds, . 

Denver & Rio Grande R.R. bonds, . 

Detroit City Gas Company bonds, . 

100 shares Oregon R.R. & Navigation Co., 

100 " N. Y. Cen. & Hud. Riv. R.R. Co., 

Union Pacific R.R. bonds, .... 

Atchison, Topeka & Santa Fe R'y bonds, 

Central of Georgia Railway bonds, . 

Norfolk & Western Railway bonds, 

Wisconsin Central R.R. bonds, 

400 shares N'ville, Chatt. & St. Louis R.R. Co. 

Atchison, Topeka & Santa Fe R'y bonds, 

200 shares N'ville, Chatt. & St. Louis R.R. Co. 

Chic, Rock Island & Pacific R'y bonds, . 

New York city bonds, .... 

Union Pacific R.R. bonds, .... 
500 shares Lake Erie & Western R.R. Co., 
600 " Manhattan Railway Co., 
400 " Union Pacific R.R. Co., 

1,400 " Del., Lack. & West. R.R. Co., 
100 " N. Y., N. H. & Hartford R.R. Co. 

Chesapeake & Ohio R'y bonds, 

Pitts., Shenango & Lake Erie R.R. bonds, 

Northern Pacific Railway bonds, 

Union Pacific R.R. bonds, 
550 shares Chic, Mil. & St. Paul R'y Co., 

1,000 " Great Northern R.R. Co., . 



Market Value 

$4,850 001 

9,220 00 
21,800 00 
26,000 00 
18,400 00 }> 
10,200 00 
14,250 00 
7,200 00 
12,300 00 j 

262,500 00 
39,500 001 
23,000 00 | 
22,250 00 )> 
12,500 00 I 
30,000 00 J 

118,500 00 
15,000 00 
10,600 00 

112,450 00 

131,250 00 
37,000 00 
58,200 00 
29,600 00 

109,900 00 
19,900 00 
12,870 001 
11,300 00 
10,200 00 
5,250 00 
68,300 00 

144,000 00 J 



Loaned Thereon. 



$100,000 00 



} 



200,000 00 
100,000 00 

100,000 00 

100,000 00 
100,000 00 

100,000 00 
100,000 00 



)> 200,000 00 



?5,272,090 00 $4,014,500 00 



Schedule B. 



Bonds owned by the 



United States bonds, 
Essex County, N. J., bonds, 
Union County, N. J., bonds, 
Elizabeth City County, Va., bonds, 
Buchanan County, Mo., bonds, . 
Lincoln County, Mo., bonds, 
Doniphan County, Kan., bonds, 
Township of West Orange, N. J., bonds, 
Township of East Orange, N. J., bonds, 
Township of Mill burn, N. J., bonds, 
Township of Bloomfield, N. J., bonds, 
City of Newark, N. J , bonds, . 



Company. 

Par Value. 

$502,000 00 

668,000 00 

4,000 00 

22,000 00 
330,000 00 
158,000 00 
370,000 00 

74,000 00 
157,515 72 

42,000 00 
160,000 00 
980,000 00 



Market Value. 

$575,500 00 

673,250 00 
00 

22,000 00 
330,000 00 
158,000 00 
370,000 00 

81,030 00 
157,515 72 

42,000 00 

160,000 00 

1,097,600 00 



THE MUTUAL BENEFIT LIFE INSURANCE CO. 



127 



City of Colorado Springs, Col., bonds, 

Township of Montclair, N. J., bonds, 

Township of Clinton, N. J., bonds, . 

Township of Bernards, N. J., bonds, 

City of Elizabeth, N. J., bonds, 

City of Orange, N. J., bonds, . 

City of Rahway, N. J., bonds, . 

City of Saginaw, Mich., bonds, 

City of Sedalia, Mo., bonds, 

City of Springfield, 111., bonds, 

City of South Bend, Ind., bonds, 

City of Toledo, O., bonds, 

Trenton, N. J , bonds, 

Elizabethtown Gas Light Co. bonds, 

Elizabethtown Water Co. bonds, 

Hackensack, N. J., Water Co. bonds, 

The Long Dock Co. bonds, 

University of City of New York bonds, 

Belvidere Delaware R.R. bonds, 

West Shore R.R. bonds, . 

Chicago, Burlington & Quincy R.R. bonds, 

Central R.R. of New Jersey bonds, . 

Perth Amboy & Woodbridge R.R. bonds, 

Chicago, Rock Island & Pacific R'y bonds, 

Freehold & Jamesburg Agricult'l R.R. bonds, 

Shamokin, Sunbury & Lewisburg R.R. bonds, 

Wilkesbarre & Scranton R.R. bonds, 

N. Y., Susquehanna & Western R.R. bonds, 

Phila., Wilmington & Baltimore R.R. bonds, 

Philadelphia & Erie R.R. bonds, 

Cleveland & Canton R.R. bonds, 

Morris & Essex R.R. bonds, 

New York, Lack. & Western R.R. bonds, 

Lehigh Valley R.R bonds, 

Rio Grande Western R'y bonds, 

Jackson, Lansing & Saginaw R.R. bonds 

Baltimore & New York R.R. bonds, 

Rapid Transit Street R.R. bonds, 

Kansas City Elevated R.R. bonds, . 

Pittsburgh, Cinn. & St. Louis R.R. bonds, 

United New Jersey R.R. & Canal Co. bonds, 

Long Island R.R. bonds, .... 

Chicago & Northwestern R'y bonds, 

Cinn., Indianap., St. Louis & Chic. R.R. bonds 

North Hudson County R.R. bonds, . 

Rome, Watertown & Ogdensburg R.R. bonds 

Fremont, Elkhorn & Mo. Valley R.R. bonds, 

Iowa Midland R.R. bonds, 



Par Value. 

$40,000 00 

245,000 00 

5,600 00 

6,000 00 

800,000 00 

10,000 00 

77,401 33 

90,000 00 

100,000 00 

114,300 00 

90,000 00 

45,000 00 

18,000 00 

100,000 00 

171,000 00 

200,000 00 

310,000 00 

20,000 00 

750,000 00 

350,000 00 

492,000 00 

450,000 00 

100,000 00 

400,000 00 

100,000 00 

40,000 00 

100,000 00 

150,000 00 

250,000 00 

500,000 00 

50,000 00 

350,000 00 

242,000 00 

365,000 00 

150,000 00 

72,000 00 

254,000 00 

94,000 00 

230,000 00 

189,000 00 

250,000 00 

100,000 00 

156,000 00 

127,000 00 

50,000 00 

150,000 00 

16,000 00 

35,000 00 



Market Value. 

$40,000 00 

245,000 00 

5,600 00 

6,000 00 

800,000 00 

10,000 00 

69,661 20 

90,000 00 

100,000 00 

114,300 00 

90,000 00 

45,000 00 

18,000 00 

103,00p 00 

171,000 00 

211,000 00 

418,500 00 

20,800 00 

772,500 00 

378,000 00 

500,190 00 

484,500 00 

100,000 00 

418,000 00 

100,000 00 

40,800 00 

106,000 00 

162,250 00 

265,000 00 

530,000 00 

35,000 00 

480,250 00 

273,060 00 

394,975 00 

135,750 00 

74,880 00 

254,000 00 

99,640 00 

230,000 00 

200,340 00 

272,750 00 

109,775 00 

163,600 00 

132,080 00 

52,750 00 

193,500 00 

21,840 00 

37,625 00 



128 



NATIONAL LIFE INSURANCE CO. 



Orange & Newark Horse Car R.R. bonds, 

Ottawa, Oswego & Fox River Val. R.R. bonds, 

Cleve., Col., Cinn. & Indianap. R'y bonds, 

New Jersey Southern Railway bonds, 

Beech Creek Railway bonds, . 

Detroit, Grand Rapids & Western R'y bonds, 

Bleecker Street & Fulton Ferry R.R. bonds, 

Clev., Cinn., Chic. & St. Louis R.R. bonds, 

West Jersey & Seashore R.R. bonds, 

New York & New England R.R. bonds, . 

Chicago, St. Louis & Pittsburgh R.R. bonds, 

Detroit, Monroe & Toledo R.R. bonds, . 

Michigan Central R.R. bonds, . 

N. Y. Central & Hudson River R.R. bonds, 

Lake Shore & Michigan Southern R'y bonds, 

Canada Southern Railway bonds, 

Nash., Chattanooga & St. Louis R'y bonds, 

New York & Harlem R.R. bonds, . 

Central Park, N. & E. River R.R. bonds, . 

Broadway & Seventh Avenue R.R. bonds, 

Suspension Bridge & Erie June. R.R. bonds, 

Maine Central R.R. bonds, 

Chicago & Eastern Illinois R.R. bonds, 

Baltimore & Potomac R.R. bonds, . 

Chic, Mil. & St. Paul R'y bonds, . 

Holly, Wayne & Monroe R'y bonds, 

New Jersey Junction R.R. bonds, . 

Indianapolis & St. Louis R.R. bonds, 

Iowa Falls & Sioux City R.R. bonds, 

Cincinnati and Springfield R'y bonds, 



Par Value. 

$10,000 00 

11,000 00 

43,000 00 

30,000 00 

50,000 00 

19,000 00 

10,000 00 

100,000 00 

250,000 00 

20,000 00 

10,000 00 

9,000 00 

28,000 00 

150,000 00 

125,000 00 

100,000 00 

15,000 00 

185,000 00 

43,000 00 

53,000 00 

50,000 00 

50,000 00 

25,000 00 

40,000 00 

200,000 00 

39,000 00 

16,000 00 

26,000 00 

40,000 00 

18,000 00 



Market Value. 

$10,950 00 
11,660 00 
43,215 00 
30,300 00 
53,000 00 
16,910 00 
10,300 00 
98,000 00 

265,000 00 
23,700 00 
11,600 00 
10,710 00 
34,495 00 

162,000 00 

132,500 00 

109,000 00 
19,275 00 

193,325 00 
47,730 00 
55,650 00 
51,500 00 
52,250 00 
28,500 00 
47,600 00 

212,000 00 
41,730 00 
16,960 00 
34,060 00 
55,200 00 
19,080 00 



$14,236,817 05 $15,136,011 92 



"NATIONAL LIFE INSURANCE COMPANY," MONTPELIER, 

VERMONT. 

[Incorporated Nov. 13, 1848. Commenced business Feb. 1, 1850.] 

Charles Dewey, President. Joseph A. DeBoer, Secretary. 

Income. 

Received for premiums on new policies, .... $417,205 20 

Received for renewal premiums, 2,550,212 72 

Dividends applied to pay running premiums, .... 86,696 67 

Dividends applied to purchase paid-up additions and annuities, 3,257 34 
Surrender values applied to purchase paid-up insurance and 

annuities, 57,475 59 

Received for annuities, 31,138 95 

Total premium income, $3,145,986 47 



NATIONAL LIFE INSURANCE CO. 



129 



Received for interest, 

as discount on claims paid in advance, 
for rents of company's property, 



$594,827 62 

651 01 

82,417 52 



Total income, $3,823,882 62 

Net or ledger assets Dec. 31, 1897, 13,894,674 61 



j.otai, •••••••• 

Disbursements. 

Paid for losses and additions, . 
for matured endowments, 
on matured instalment policies, 



$17,718,557 23 



$771,501 93 

110,234 00 

2,951 86 



Gross amount paid for losses and endowments, 

Paid to annuitants, 

Cash dividends paid policy holders, .... 
applied to pay running premiums, 
applied to purchase paid-up additions an 

annuities, 

Surrender values paid in cash, 

Surrender values applied to purchase paid-up insurance and 
annuities, 



Total paid policy holders, 

Cash paid for commissions and bonuses to agents (new poli 
cies, $238,008 60 ; renewals, $ 177,542.87), . 
for salaries and allowances to managers and agents 
for medical examiner's fees and inspections, . 
for salaries of officers and home office employees 
for taxes on new premiums, $7,548.98 ; on re 

newals, $38,733.12, 

for taxes on investments, $ 167. 35; on reserves 

$5,461.81; internal revenue, $4,920.70, 
for taxes on real estate, . 
for fees, licenses, etc., 

for rent, 

for commuting commissions, . 
for advertising, printing and postage, 
for legal expenses, .... 
for furniture and office fixtures, 
for real estate expenses (except taxes), 
for incidentals, .... 
Premiums on bonds purchased, 
On account depreciation, 



Total disbursements, 
Balance, 



$884,687 79 

4,071 63 

32,535 77 

86,696 67 

3,257 34 
568,969 66 

57,475 59 



$1,637,694 45 

415,551 47 

49,929 11 

38,512 32 

57,374 74 

46,282 10 

10,549 86 

29.713 09 
4,763 15 

30,356 91 
41,462 52 
38,373 26 

3,983 85 
12,377 40 
50,404 54 

2,937 07 
72,825 48 

77.714 87 

. $2,620,806 19 
$15,097,751 04 



130 



NATIONAL LIFE INSURANCE CO. 



Invested in the following : — 

ASSET8 AS PER LEDGER ACCOUNTS 

Book value of real estate, .... 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral 

Premium notes or loans on policies in force, . 

Par value of stocks and bonds owned (schedule B) 

Cash in company's office, 

Cash deposited in bank, 

Bills receivable, 



Total net or ledger assets, as per balance, 



$1,703,019 23 

3,954,491 36 

92,832 

1,768,786 27 

501,781 84 

6,566,770 71 

5,014 34 

430,265 13 

14,789 31 

115,097,751 04 



Other Assets. 
Interest due, $79,586.09 ; accrued, $219,505.27, 
Market value of stocks and bonds over par, . 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.),. 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

$72,948 96 $149,595 54 
55,785 40 236,447 42 



$128,734 36 $386,042 96 
25,746 87 77,208 59 



$102,987 49 $308,834 37 



299,091 36 
338,696 24 



Total assets, per company's books, . 

Items not admitted. 



411,821 86 
$16,147,360 50 



Bills receivable, 



Total admitted assets, 
Deduct special deposits in other States, . 



Balance, 



14,789 31 

$16,132,571 19 

11,100 00 

$16,121,471 19 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $13,820,285 00 

Present value of unpaid instalments, 38,270 87 

Commissions due on premium notes, 770 76 

Death losses in process of adjustment, . . $19,000 00 
Claims resisted by the company, . . . 17,000 00 

Total policy claims, 36,000 00 






NATIONAL LIFE INSURANCE CO. 



131 



Unpaid dividends of surplus due policy holders, 
Premiums paid in advance, .... 
Due for taxes, fees, salaries, expenses, etc., . 
Contingent surrender values, .... 
Extra reserve on life rate endowment policies, 

Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 



Surplus as regards policy holders, . 
Gross liabilities, .... 



$11,375 55 

6,530 38 

4,325 00 

13,477 36 

352,835 39 

$14,283,870 31 
3,854 92 

$14,280,015 39 
. 1,841,455 80 

$16,121,471 19 



Premium Note Account. 



Premium notes on hand Dec. 31, 1897, 
Premium notes rec'd during 1898 (old policies) 

Total, 

Used in payment of losses and claims, . 
in purchase of surrendered policies, 
in payment of dividends to policy holders 
Redeemed by maker in cash, . 

Total, 



$412,096 83 
244,224 64 

$5,665 68 

43,749 47 

41 11 

105,083 47 



$656,321 47 



154,539 63 



Balance note assets Dec. 31, 1898, 



$501,781 84 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897* 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 24,431 $55,439,625 00 

Endowment, . . . 11,600 19,531,704 00 

All other, .... 590 1,555,800 00 
Reversionary additions and 

return premiums, . . - 135,951 00 

36,621 $76,663,080 00 



Whole life, 
Endowment, 
All other, . 



Whole life, 
Endowment, 



Policies issued during the Year. 



4,298 

2,253 

156 


$8,185,926 00 

4,135,697 00 

410,500 00 


Old Policies revived. 

35 $82,832 00 
20 24,500 00 



6,707 12,732,123 00 



65 



107,332 00 



132 



NATIONAL LIFE INSURANCE CO. 



Old Policies changed and increased. 

Number. Amount. Total No. Total Amount. 

$2,000 00 
2,500 00 

- $4,500 00 

Additions by dividends and return premiums, . . - 28,000 00 



Whole life, 
Endowment, 



Total, 43,383 $89,535,035 00 

Policies terminated during the Tear. 

Whole life, . . . 2,868 $6,393,076 00 
Endowment, . . . 1,280 2,108,541 00 
All other, .... 144 376,860 00 



By death, . 

maturity, 

expiry, . 

surrender, 

lapse, . 

change and decrease, 
Not taken, . 



4,292 $8,878,477 00 

How terminated. 

324 $780,786 00 

58 110,234 00 

41 105,000 00 

1,494 3,095,184 00 

1,519 2,886,327 00 

39 246,615 00 

817 1,654,331 00 



4,292 8,878,477 00 



Policies in Force Dec. 31, IS 98. 



Whole life, . . . 25,896 

Endowment, . . . 12,593 

Allother, .... 602 
Reversionary additions and 

return premiums, . . - 



$57,317,307 00 

21,585,860 00 

1,599,800 00 

153,591 00 



39,091 80,656,558 00 



Schedule A. 
Securities held as Collateral. 

Market Value. Loaned Thereon. 

100 shares Lane Manuf. Co., Montpelier, Vt., . $12,500 00 $5,000 00 

90 " Lane Manuf . Co., Montpelier, Vt., . 11,250 00 5,500 00 

352 " Lane Manuf. Co., Montpelier, Vt., . 44,000 00 20,000 00 

25 " Lane Manuf. Co., Montpelier, Vt., . 3,125 00 1,000 00 

30 " Lane Manuf. Co., Montpelier, Vt., . 3,750 00 2,000 00 

160 " Gordon Orch. & Vineyard Co., Cal., 2,000 00 ' 

160 " Banner Vineyard Co., Cal., . . 4,800 00 

Gordon Orchard & Vineyard Co. notes, . . 2,500 00 

Grangeville Vineyard Co., Cal., notes, . . 2,000 00^ 

Vermont Marble Co. bonds, .... 42,000 00 40,000 00 



NATIONAL LIFE INSURANCE CO. 



133 



80 shares Neshobe Electric Co., Brandon, Vt, 
16 " First Nat'l Bank, Montpelier, Vt., 
70 " Wetmore & Morse Granite Co., 
28 " Wetmore & Morse Granite Co., 

United States bonds, 

Vermont Marble Co. bonds, 



Schedule B. 



Market Value. 

$8,000 00 

1,680 00 

8,750 00 

3,500 00 

2,560 00 

10,500 00 



Loaned Thereon. 

$3,891 20 

1,500 00 

1,336 00 

2,000 00 

10,000 00 



$162,915 00 $92,832 85 



Stocks and Bonds owned by the 



231 shares First Nafl Bank, Montpelier, Vt., . 
17 " Montpelier N'l B'k, Montpelier, Vt, 
United States bonds, . 
New Hampshire State bonds, . 
Village of Hillsborough Bridge bonds, 
Vermont State bonds, 
City of Barre, Vt., bonds, . 
City of Burlington, Vt., bonds, 
City of Montpelier, Vt., bonds, 
City of St. Albans, Vt , bonds, . 
City of Vergennes, Vt., bonds, . 
Town of Arlington, Vt., bonds, 
Town of Bakersfield, Vt., bonds, 
Town of Bennington, Vt., bonds, 
Town of Brighton, Vt., bonds, . 
Town of Corinth, Vt., bonds, . 
Town of Danville, Vt., bonds, . 
Town of Dorset, Vt., bonds, 
Town of East Montpelier, Vt , bonds, 
Town of Enosburgh, Vt., bonds, 
Town of Greensboro, Vt., bonds, 
Town of Highgate, Vt., bonds, 
Town of Hyde Park, Vt., bonds, 
Town of Jamaica, Vt., bonds, . 
Town of Jericho, Vt., bonds, . 
Town of Mount Tabor, Vt., bonds, 
Town of Middlebury, Vt., bonds, 
Town of Newfane, Vt., bonds,. 
Town of Rutland, Vt., bonds, . 
Town of Sheldon, Vt., bonds, . 
Town of Swanton, Vt., bonds, . 
Town of Townshend, Vt., bonds, 
Town of Underhill, Vt., bonds, 
Town of Wallingford, Vt., bonds, 
Town of Waterbury, Vt., bonds, 
Town of West Rutland, Vt., bonds, 
Town of Wilmington, Vt , bonds, 



Company. 

Par Value. 

$23,100 00 

1,700 00 

525,000 00 

11,000 00 

25,000 00 

120,000 00 

70,000 00 

25,000 00 

84,500 00 

45,000 00 

14,500 00 

34,000 00 

3,000 00 

50,000 00 

12,500 00 

18,000 00 

9,000 00 

35,000 00 

4,813 33 

3,708 61 

13,000 00 

14,000 00 

11,000 00 

12,000 00 

1,500 00 

6,000 00 

22,000 00 

10,000 00 

6,095 37 

12,000 00 

70,300 00 

9,000 00 

3,500 00 

2,500 00 

20,000 00 

17,500 00 

20,800 00 



Market Value. 

$24,255 00 
2,975 00 

618,850 00 
12,235 30 
27,007 50 

120,479 60 

72.239 00 

26.240 00 
86,273 45 
46,116 00 
14,926 90 
35,176 40 

3,044 70 

53,385 00 

12,885 00 

18,145 80 

9,186 30 

35,812 00 

4,835 85 

3,726 75 

13,020 80 

14,560 00 

11,080 00 

12,382 20 

1,518 30 

6,018 60 

22,636 10 

10,029 60 

6,200 24 

12,364 80 

71,003 22 

9,290 70 

3,523 15 

2,521 25 

20,276 00 

17,769 50 

21,916 90 



134 



NATIONAL LIFE INSURANCE CO. 



Town of Wolcott, Vt., bonds, . 
Village of Barton, Vt., bonds, . 
Village of Barton Landing, Vt., bonds, 
Village of Bradford, Vt., bonds, 
Village of Brandon, Vt., bonds, 
Village of Brattleboro, Vt., bonds, . 
Village of Enosburgh Falls, Vt , bonds, 
Village of Hardwick, Vt., bonds, 
Village of Hartford, Vt., bonds, 
Village of Hyde Park, Vt., bonds, . 
Village of Johnson, Vt., bonds, 
Village of Ludlow, Vt , bonds, 
Village of Newport, Vt., bonds, 
Village of Northfield, Vt, bonds, 
Village of North Troy, Vt , bonds, . 
Village of Proctor, Vt., bonds, . 
Village of Richford, Vt., bonds, 
Village of St. Johnsbury, Vt., bonds, 
Village of Waterbury, Vt., bonds, . 
Village of West Randolph, Vt., bonds, 
Village of Winooski, Vt., bonds, 
Barre, Vt., School District bonds, 
East Barre, Vt , School District bonds, 
Brattleboro, Vt., School District bonds, 
North Troy, Vt., School District bonds, 
Sheldon Marble Company bonds, 
City of Boston bonds, 
Town of E. Providence, R. I., bonds, 
Town of Enfield, Conn., bonds, 
State of New York bonds, 
City of Brooklyn, N. Y., bonds, 
County of Hudson, N. J., bonds, 
City of Atlantic City, N. J , bonds, 
City of Long Branch, N. J., bonds, 
Town of Union, N. J., bonds, . 
Town of Beaver, Pa , bonds, . 
Town of Rochester, Pa., bonds, 
Town of DuBois, Pa., bonds, . 
Town of Duquesne, Pa., bonds, 
Town of Sharpsville, Pa., bonds, 
Logan, Pa., School District bonds, 
City of Baltimore, Md., bonds, . 
County of Gallia, Ohio, bonds, . 
City of East Liverpool, Ohio, bonds, 
City of Fostoria, Ohio, bonds, . 
City of Piqua, Ohio, bonds, 
City of Washington, Ohio, bonds, 



Par Value. 

f 2,000 00 
40,000 00 
12,800 00 
42,000 00 
26,500 00 
4,500 00 
3,600 00 
15,000 00 
12,000 00 
15,000 00 
16,000 00 
25,000 00 
12,000 00 
15,000 00 
16,000 00 
50,000 00 
20,000 00 
26,000 00 
34,000 00 
12,000 00 
14,000 00 
1,800 00 
2,400 00 
20,000 00 
4,000 00 
54,000 00 
60,000 00 
27,000 00 
13,000 00 
55,000 00 
50,000 00 
37,000 00 
31,000 00 
20,000 00 
20,000 00 
15,900 00 
13,000 00 
32,000 00 
60,000 00 
23,500 00 
20,000 00 
80,000 00 
15,000 00 
20,000 00 
16,000 00 
10,000 00 
19,740 00 



Market Valne. 

$2,028 75 

41,237 00 

13,354 24 

42,646 80 

27,292 55 

4,544 15 

3,645 88 

15,183 00 

12,249 60 

15,159 00 

16,278 60 

25,502 50 

12,102 00 

15,357 00 

16,000 00 

51,972 40 

20,147 20 

27,090 80 

34,348 80 

12,248 40 

14,561 40 

1,812 34 

2,463 12 

21,068 00 

4,007 60 

66,646 80 

65,621 00 

33,004 50 

14,201 20 

55,159 50 

53,915 00 

37,725 20 

34,450 30 

20,158 00 

20,434 00 

17,029 16 

14,046 50 

33,846 40 

65,625 00 

24,989 00 

20,848 00 

80,000 00 

15,900 00 

21,430 00 

16,097 60 

10,149 00 

20,363 78 



NATIONAL LIFE INSURANCE CO. 



135 



City of Xenia, Ohio, bonds, 

City of Zanesville, Ohio, bonds, 

Town of Wellston, Ohio, bonds, 

Village of Bridgeport, Ohio, bonds, 

Village of Bryan, Ohio, bonds, 

Village of Leetonia, Ohio, bonds, . 

Village of Lorain, Ohio, bonds, 

Village of Louisville, Ohio, bonds, . 

Village of Wapakoneta, Ohio, bonds, 

Collinwood, Ohio, School District bonds, 

Martin's Ferry, Ohio, School District bonds, 

Ottawa, Ohio, School District bonds, 

Clay Co., Ind., bonds, 

Jay Co., Ind , bonds, 

Lawrence Co., Ind., bonds, 

Monroe Co., Ind., bonds, . 

Montgomery Co , Ind., bonds, 

Owen Co , Ind., bonds, 

City of Franklin, Ind., bonds, 

Town of Sullivan, Ind., bonds, 

Anderson, Ind., School District bonds, 

Indianapolis, Ind., School District bonds, 

Logansport, Ind., School District bonds, 

City of Bloomington, 111., bonds, 

City of Paris, 111., bonds, . 

City of Springfield, 111., bonds, 

City of Woodstock, 111., bonds, 

Village of Lockport, 111., bonds, 

East St. Louis, 111., School District bonds, 

Rock Island, 111., School District bonds, 

Amherst County, Va , bonds, . 

City of Newport News, Va., bonds, . 

City of Huntington, W. Va., bonds,. 

City of Parkersburg, W. Va., bonds, 

Paris, Ky , School District bonds, 

State of Tennessee bonds, 

Alcona County, Mich., bonds, . 

City of Cheboygan, Mich., bonds, . 

City of Escanaba, Mich., bonds, 

City of Grand Haven, Mich., bonds, 

City of Hillsdale, Mich., bonds, 

City of Niles, Mich., bonds, 

City of Owosso, Mich., bonds, . 

City of St. Joseph, Mich., bonds, 

City of Sault Ste. Marie, Mich., bonds, 

West Bay City, Mich., bonds, . 

Village of Buchanan, Mich., bonds, . 



Par Value. 

$6,000 00 
75,000 00 
38,000 00 
25,000 00 
30,000 00 

1,500 00 

6,000 00 
16,000 00 
35,000 00 
17,000 00 
10,000 00 
20,000 00 
23,000 00 

5,000 00 
22,000 00 
17,000 00 

8,000 00 
20,430 00 
24,000 00 
18,000 00 

5,500 00 
12,000 00 
16,000 00 
20,000 00 

9,000 00 
18,200 00 

5,000 00 

7,700 00 
17,000 00 
63,500 00 
40,000 00 
35,000 00 
47,000 00 
25,000 00 
25,000 00 
100,000 00 
10,000 00 
12,500 00 
20,000 00 
13,000 00 

5,000 00 
10,000 00 
30,500 00 
37,000 00 
24,000 00 
22,000 00 
10,000 00 



Market Value. 

$6,121 80 

75,732 50 

41,907 30 

27,045 00 

31,422 00 

1,509 00 

6,301 20 

17,228 80 

38,482 50 

18,373 60 

11,679 00 

22,236 00 

24,971 10 

5,061 00 

23,784 20 

17,399 50 

8,000 00 

21,369 78 

26,378 40 

20,250 00 

5,579 20 

12,045 60 

16,652 80 

20,414 00 

9,852 30 

18.582 20 
5,048 50 
7,949 48 

18,856 40 
64,743 55 
41,340 00 
36,717 50 
57,401 10 
27,385 50 
25,810 00 
95,000 00 

11.298 00 
13,190 00 
20,816 00 

13.583 70 
5,112 50 

10.299 40 
31,093 65 
39,841 60 
26,040 00 
22,217 60 
10,581 00 



136 



NATIONAL LIFE INSURANCE CO. 



Village of Clinton, Mich , bonds, 

Village of Durand, Mich., bonds, 

Village of Quincy, Mich., bonds, 

Village of St. Johns, Mich., bonds, . 

Village of Tecumseh, Mich., bonds, 

Village of Union City, Mich., bonds, 

Bay City, Mich , School District bonds, 

Cheboygan, Mich., School District bonds 

Frankfort, Mich., School District bonds, 

Mt. Clemens, Mich., School District bonds, 

Sault Ste. Marie, Mich., School District bonds 

Outagamie County, Wis., bonds, 

City of Applcton, Wis., bonds, 

City of Fond du Lac, Wis , bonds, 

City of Green Bay, Wis., bonds, 

City of Madison, Wis., bonds, . 

City of Manitowoc, Wis., bonds, 

City of Merrill, Wis., bonds, . 

City of Reedsburg, Wis , bonds, 

Village of Elkhorn, W T is., bonds, 

Applcton, Wis., School District bonds, 

Delavan, Wis., School District bonds, 

Appanoose Co., Iowa, bonds, . 

Carroll Co., Iowa, bonds, . 

Clarke Co., Iowa, bonds, . 

Monroe Co , Iowa, bonds, 

Shelby Co., Iowa, bonds, . 

Wapello Co , Iowa, bonds, 

City of Afton, Iowa, bonds, 

City of Ames, Iowa, bonds, 

City of Bloomfield, Iowa, bonds, 

City of Carroll, Iowa, bonds, . 

City of Corning, Iowa, bonds, . 

City of Creston, Iowa, bonds, . 

City of Fairfield, Iowa, bonds, . 

City of Fort Dodge, Iowa, bonds, 

City of Indianola, Iowa, bonds, 

City of Iowa City, Iowa, bonds, 

City of Ottumwa, Iowa, bonds, 

City of Shenandoah, Iowa, bonds, 

City of Villisca, Iowa, bonds, . 

City of Waterloo, Iowa, bonds, 

City of Webster, Iowa, bonds, . 

Town of Marengo, Iowa, bonds, 

Town of Oelwein, Iowa, bonds, 

Town of Rock Rapids, Iowa, bonds 

Alvord, Iowa, School District bonds 

Burlington, Iowa, School District bonds, 



Par Value. 

$3,000 00 
10,000 00 

6,000 00 
10,000 00 
12,000 00 
20,000 00 
10,000 00 
30,000 00 
14,000 00 

6,000 00 
15,000 00 
25,000 00 

5,000 00 
13,000 00 
23,000 00 
23,000 00 
12,500 00 
25,500 00 
17,000 00 
15,000 00 
12,000 00 
24,500 00 
25,000 00 
40,000 00 
16,000 00 
26,000 00 
14,000 00 

4,000 00 

4,900 00 
15,000 00 

9,000 00 
16,000 00 
15,000 00 
12,000 00 
25,000 00 

5,000 00 
13,000 00 
36,000 00 
32,000 00 
20,000 00 
10,000 00 
20,000 00 
13,000 00 

8,500 00 

14,000 00 

12,000 00 

100 00 

16,000 00 



Market Value. 

$3,032 40 

10.408 00 
6,378 00 

10,304 00 
12,436 80 
21,212 00 
10,061 00 
31,347 00 
14,360 30 

6,115 00 
15,486 00 
25,915 00 

5,024 50 
13,440 70 
24,536 40 
23,828 00 

13.151 20 
26,265 30 
17,669 80 

15.409 50 
12,157 20 
25,012 05 
25,340 00 
40,756 00 
16,078 60 
26,384 00 
14,292 60 

4,007 20 

4,942 14 

16,378 50 

9,245 70 

16,353 70 

15.152 00 
12,984 00 
26;707 50 

5,030 50 

13.235 30 
36,367 20 
32,211 20 
21,568 00 

10.236 00 
20,518 00 
13,221 00 

8,562 05 

15,678 60 

12,486 00 

110 08 

16,040 00 



NATIONAL LIFE INSURANCE CO. 



137 



Cedar Rapids, Iowa, School District bonds, 

Centerville, Iowa, School District bonds, 

Clinton, Iowa, School District bonds, 

Council Bluffs, Iowa, School District bonds, 

Decorah, Iowa, School District bonds, 

Des Moines, Iowa, School District bonds, 

Doon, Iowa, School District bonds, . 

Eldora, Iowa, School District bonds, 

Forest Home, Iowa, School District bonds, 

Griswold, Iowa, School District bonds, . 

Marion, Iowa, School District bonds, 

Oakdale, Iowa, School District bonds, 

Perry, Iowa, School District bonds, . 

Red Oak Junction, Iowa, School District bonds 

Sanborn, Iowa, School District bonds, 

Clinton Co., Iowa, warrants, 

Sioux City, Iowa, warrants, 

City of Albert Lea, Minn , bonds, 

City of Anoka, Minn., bonds, . 

City of Little Falls, Minn., bonds, 

City of Stillwater, Minn , bonds, 

Village of Hibbing, Minn., bonds, 

Douglas Co., Minn., School District bonds, 

Duluth, Minn., School District bonds, 

Lake City, Minn., School District bonds, . 

Lyon Co , Minn., School District bonds, . 

West Duluth, Minn., School District bonds, 

Sullivan Co., Mo., bonds, . 

Vernon Co., Mo., bonds, . 

City of Carthage, Mo., bonds, . 

City of Gallatin, Mo., bonds, . 

City of Hannibal, Mo., bonds, . 

City of Jefferson, Mo., bonds, . 

City of Monett, Mo., bonds, 

City of Nevada, Mo , bonds, 

City of Sedalia, Mo., bonds, 

City of Trenton, Mo., bonds, . 

Nevada, Mo., School District bonds, 

Clay Co., Mo., School District bonds 

Douglas County, Neb., bonds, . 

Dundy County, Neb , bonds, . 

City of Kearney, Neb., bonds, . 

City of Lincoln, Neb., bonds, . 

City of Omaha, Neb., bonds, . 

City of Red Cloud, Neb., bonds, 

Village of North Bend, Neb., bonds 

Aurora, Neb., School District bonds, 

Box Butte Co., Neb., School District bonds, 



Par Value. 

$55,000 00 
12,000 00 
28,500 00 
32,000 00 
25,000 00 
39,000 00 
600 00 
12,000 00 
20,000 00 

3,000 00 
25,000 00 
14,000 00 

6,000 00 
32,000 00 

3,000 00 

2,782 06 

173,000 00 

32,000 00 

10,000 00 

9,000 00 
41,000 00 
11,400 00 
15,000 00 
34,000 00 
10,000 00 

9,000 00 
20,000 00 
10,000 00 
25,000 00 
33,000 00 
25,000 00 
17,000 00 
54,000 00 
14,800 00 
24,000 00 
50,000 00 
37,000 00 

5,000 00 

2,500 00 
20,000 00 
600 00 
25,000 00 
50,000 00 
20,000 00 
10,000 00 
300 00 

5,000 00 

5,000 00 



Market Value. 

$56,254 00 
12,000 00 
28,776 45 
32,449 90 
25,627 50 
39,623 10 
660 48 
12,336 00 
20,168 00 

3,000 00 
25,810 00 
14,453 60 

6,086 40 
32,140 70 

3,000 00 

2,782 06 

173,207 60 

33,436 80 

10,504 00 

9,648 90 
45,124 60 
11,718 06 
15,503 50 
37,728 00 
10,202 00 

9,315 00 
20,482 00 
10,227 00 
26,500 00 
33,543 00 
25,690 00 
17,103 70 
55,927 80 
15,341 68 
26,176 80 
52,895 00 
39,042 40 

5,094 00 

2,521 50 
21,806 00 
666 48 
25,957 50 
50,000 00 
21,244 00 
10,650 00 
300 00 

5,036 50 

5,036 50 



138 



NATIONAL LIFE INSURANCE CO. 



Cass Co., Neb., School District bonds, 
Columbus, Neb., School District bonds, . 
Dawson Co., Neb., School District bonds, 
Harlan Co., Neb., School District bonds, . 
Holt Co., Neb., School District bonds, 
Johnson Co., Neb., School District bonds, 
Kearney, Neb., School District bonds, 
Oakdale, Neb., School District bonds, 
Saline Co., Neb., School District bonds, . 
Nebraska State, county and city warrants, 
Graham Co., Kan., bonds, .... 
Haskell Co., Kan., bonds, .... 
Seward Co., Kan., bonds, .... 
City of Newton, Kan., bonds, . 
Atchison Co., Kan., School District bonds, 
Barber Co , Kan., School District bonds, . 
Cloud Co., Kan., School District bonds, . 
Coffeyville, Kan , School District bonds, . 
Dickinson Co , Kan., School District bonds, 
Gray Co., Kan., School District bonds, . 
Horton Co., Kan., School District bonds,. 
Kiugman Co., Kan., School District bonds, 
Liberal, Kan., School District bonds, 
Neosho Co , Kan., School District bonds, . 
Reno Co , Kan., School District bonds, . 
Sedgwick Co., Kan., School District bonds, 
Stanton Co., Kan., School District bonds, 
Wa-Keeney, Kan., School District bonds, 
Wellington, Kan., School District bonds, 
Otero Co., Col , bonds, 
City of Boulder, Col., bonds, . 
City of Colorado Springs, Col., bonds, 
Town of South Denver, Col., bonds, 
Pueblo Co., Col., School District bonds, 
Arizona Territory bonds, . 
New Mexico Territory bonds, . 
New Mexico School District bonds, 
City of Huron, So. Dakota, bonds, 
City of Pierre, So. Dakota, bonds, 
City of Sioux Falls, So. Dakota, bonds, 
Hughes Co., So. Dakota, School District b'ds 
Huron, So. Dakota, School District bonds, 
City of Cheyenne, Wyoming, bonds, 
Silver Bow County, Mont., bonds, . 
City of Helena, Mont., bonds, . 
Helena, Mont., School District bonds, 
Weber County, Utah, bonds, . 
City of Ogden, Utah, bonds, . 



Par Value. 

|9,000 00 

25,000 00 

3,400 00 

1,500 00 

3,000 00 

8,000 00 

40,000 00 

2,500 00 

33,000 00 

128,094 90 

10,000 00 

14,000 00 

6,000 00 

12,000 00 

10,000 00 

4,100 00 

500 00 

7,500 00 

4,500 00 

4,000 00 

13,000 00 

1,700 00 

15,000 00 

5,000 00 

3,500 00 

8,000 00 

1,000 00 

750 00 

14,000 00 

4,000 00 

35,000 00 

31,000 00 

25,000 00 

70,000 00 

80,000 00 

50,000 00 

20,000 00 

12,500 00 

11,000 00 

20,000 00 

10,000 00 

20,000 00 

25,000 00 

25,000 00 

40,000 00 

10,000 00 

40,000 00 

20,000 00 



Market Value. 

$9,447 90 

25,730 00 

3,810 04 

1,500 00 

3,622 20 

8,2^3 20 

42,099 00 

2,787 25 

33,296 20 

128,094 90 

11,975 40 

14,000 00 

6,000 00 

12,667 20 

11,880 00 

4,287 60 

504 30 

7,998 75 

4,532 25 

4,773 60 

13,786 50 

1,724 65 

15,000 00 

5,175 50 

3,935 40 

8,000 00 

1,000 00 

754 30 

14,490 00 

4,058 00 

36,650 50 

31,740 90 

27,785 00 

72,754 00 

84,070 00 

51,087 00 

24,272 00 

12,500 00 

11,000 00 

20,860 00 

10,000 00 

20,000 00 

25,877 50 

26,230 00 

41,464 00 

10,381 00 

41,296 00 

20,860 00 



NEW YORK LIFE INSURANCE CO. 



139 



City of Salt Lake, Utah, bonds, 
City of Pasadena, Cal., bonds, . 
City of Santa Rosa, Cal., bonds, 
Lewis County, Wash., bonds, . 
City of Seattle, Wash, bonds, . 
City of Tacoma, Wash., bonds, 
Village of South Bend, Wash., bonds, 
Seattle, Wash., School District bonds, 
Washington State warrants, 
City of Astoria, Oregon, bonds, 
Oregon county and city warrants, . 



Par Value. 

$20,000 00 
22,000 00 
28,875 00 
20,000 00 
40,000 00 
25,000 00 
24,000 00 
10,000 00 
294 20 
20,000 00 
2,987 24 



Market Value. 

$20,074 00 
23,128 60 
28,875 00 
21,116 00 
41,838 00 
26,320 00 
24,000 00 
10,519 00 
294 20 
21,524 00 
3,009 34 



1,566,770 71 $6,905,466 95 



« NEW YORK LIFE INSURANCE COMPANY," NEW YORK, N. Y. 

[Incorporated 1841. Commenced business 1845.] 

John A. McCall, President. Charles C. Whitney, Secretary. 

Income. 

Received for premiums on new policies, $6,054,499 73 

Received for renewal premiums, 27,621,408 80 

Dividends applied to pay running premiums, .... 332,739 57 

Dividends applied to purchase paid-up additions and annuities, 372,794 14 

Surrender values applied to pay running premiums, . . 33,785 35 

Received for annuities, 1,322,312 65 



Total 

Deduct amount paid for reinsurance, 



Total premium income, 
Received for interest, 
Received for rents of company's property 
Deposits on registered bond policies, 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



Total, 



Disbursements 
Paid for losses and additions, . 
Paid for matured endowments and additions, 



Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 



$35,737,540 24 
104,891 68 

$35,632,648 56 

. 8,917,526 57 

875,741 38 

6,000 00 

$45,431,916 51 
190,063,085 95 



$235,495,002 46 



$10,280,408 41 
. 3,636,550 55 

$13,916,958 96 
20,607 95 



Net amount paid for losses and endowments, . 



$13,896,351 01 



140 



NEW YORK LIFE INSURANCE CO. 



$1,494,627 57 

2,0.03,897 94 

332,739 57 

372,794 14 

1,270,564 88 

33,785 35 

2,050,824 00 

14,281 44 

$21,519,865 90 



Paid to annuitants, 

Cash dividends paid policy holders, 

applied to pay running premiums, . 

applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, 

Surrender values applied to pay running premiums, 
Reserve value paid on matured deferred dividend policies, 
Instalments paid on trust and registered bond policies, . 

Total paid policy holders, 

Cash paid for commissions and bonuses to agents (new poli- 
cies, $3,320,904 33 ; renewals, $680,498.89), . 4,001,403 22 
for salaries and allowances to managers and agents, 1,161,364 36 
for medical examiner's fees and inspections, . . 449,427 77 
for salaries of officers and home office employees, . 643,882 38 
for taxes on new premiums, $40,820.37 ; on re- 
newals, $181,184.05, 222,004 42 

for taxes on investments, $6,383.37 ; on reserves, 
$14,850.70; on franchise, $60.43; internal rev- 
enue, $4,939.03, 26,233 53 

for taxes on real estate, 163,896 85 

for fees, licenses, etc., 74,072 90 

for rent, 367,884 23 

for commuting commissions, 392,098 73 

for advertising and printing, 406,716 96 

for legal expenses, 225,559 31 

for real estate expenses (except taxes),. . . 163,664 63 

for incidentals, 680,877 82 



Total disbursements, . 
Voluntary reduction in real estate values, 



$30,498,953 01 
. 1,500,000 00 



Balance, $203,496,049 45 

Invested in the following : — 

Assets as per Ledger Accounts. 

Book value of real estate, $16,539,000 00 

Loans on mortgage of real estate (first liens), . . . 39,002,757 58 

on collateral security (schedule A), . . . 7,390,845 84 

on company's policies assigned as collateral, . . 9,818,600 00 

Premium notes or loans on policies in force, .... 1,320,423 21 

Book value of stocks and bonds owned (schedule B), . 120,219,120 12 

Cash in company's office, 54,682 71 

Cash deposited in bank, 8,380,103 08 

Agents' balances, 770,516 91 



Total net or ledger assets, as per balance, 



$203,496,049 45 



NEW YORK LIFE INSURANCE CO. 141 



Other Assets. 

Interest due, $159,354.79; accrued, $1,257,561.16, . . . $1,416,915 95 
Rents due, $14,803.28; accrued, $8,766.88, .... 23,57016 
Market value of stocks and bonds over book, .... 7,411,330 71 

New Business. Renewals. 

Uncollected premiums on poli- 
cies in force, .... - $2,400,198 00 

Deferred premiums on policies 
in force, $396,366 00 2,051,101 00 

Total, $396,366 00 $4,451,299 00 

Deduct loading (20 per cent.), 79,273 20 890,259 80 

Net amount of uncollected and 

deferred premiums, . . $317,092 80 $3,561,039 20 

3,878,132 00 

Total assets, per company's books, .... $216,225,99827 

Items not admitted. 

Agents' balances, $770,516 91 

Cuyahoga County bonds in suit, . . . 145,000 00 

Total, ; 915,516 91 

Total admitted assets, $215,310,481 36 

Deduct special deposits in other States, 13,186,860 21 

Balance, $202,123,621 15 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $177,030,283 00 
Deduct net value of reinsured risks, 338,482 00 

Net reserve, $176,691,801 00 

Matured endowments due and unpaid, . . $186,518 10 
Death losses in process of adjustment, . . 1,289,195 52 
Claims resisted by the company, . . . 49,000 00 

Due and unpaid on annuity claims, . . . 122,223 28 

Total policy claims, 1,646,936 90 

Trust funds held by company, 278,739 64 

Unpaid dividends of surplus due policy holders, . . . 159,545 92 

Premiums paid in advance, 273,161 01 

Additional policy reserve, 1,857,074 00 

Surplus reserved fund, 26,414,234 00 

Liabilities as to policy holders, $207,321,492 47 

Deduct liabilities on special deposits, 13,186,860 21 

$194,134,632 26 
Surplus as regards policy holders, 7,988,988 89 

Gross liabilities, $202,123,621 15 



142 



NEW YORK LIFE INSURANCE CO. 



Premium Note Account. 



Premium notes on hand Dec. 31, 1897, 
Premium notes rec'd during 1898 (old policies), 

Total, 

Used in payment of losses and claims, . 
in purchase of surrendered policies, 
in payment of dividends to policy holders, 
Redeemed by maker in cash, .... 
Total 

Balance note assets Dec. 31, 1898, . 



$1,189,401 37 
405,413 57 

$33,637 13 

113,267 97 

535 57 

126,951 06 



$1,594,814 94 



274,391 73 
. $1,320,423 21 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 250,945 $626,694,100 00 

Endowment, . . . 72,927 192,887,378 00 

Allother,. . . . 9,086 52,982,960 00 

Reversionary additions, . - 4,456,487 00 

332,958 $877,020,925 00 



Whole life, 
Endowment, 
All other, . 



Whole life, 
Endowment, 
All other,. 



Policies issued during the Tear. 
. 54,687 $108,984,500 00 
. 18,623 36,068,100 00 
161 7,040,769 00 



73,471 152,093,369 00 



Old Policies revived. 

573 $1,381,500 00 

236 280,500 00 

26 48,500 00 



Additions by 


dividends, 


• • 


835 

• • • ■ "■ 


1,710,500 00 
419,188 00 








Policies terminated during the Tear. 




Whole life, 


• t 


. 24,716 


$60,514,000 00 




Endowment, 


• • 


. 7,004 


18,192,378 00 




All other, . 


• • 


. 1,610 


8,516,484 00 





33,330 $87,222,862 00 
How terminated. 



By death,. . . 


3,524 


$10,120,469 00 


maturity, . 


1,001 


3,670,200 00 


expiry, 


1,174 


4,764,238 00 


surrender, . 


, 4,270 


13,665,532 00 


lapse, . 


, 23,361 


45,994,767 00 


change and decrease, 


- 


9,007,656 00 



33,330 87,222,862 00 



NEW YORK LIFE INSURANCE CO. 



143 



Policies in Force Dec. 31, 1898. 



Whole life, . 
Endowment, . 
All other, 
Reversionary additions, 



Number. Amount. Total No. Total Amount. 

. 279,100 |670,638,400 00 

. 84,335 209,704,600 00 

. 10,499* 59,225,733 00* 

4,452,387 00 
373,934 $944,021,120 00 



Schedule A. 
Securities held as Collateral. 



Lake Shore & Michigan South'n R.R. bonds, 
Jeft'ersonville, Madison & Ind. R.R. bonds, 
1,000 shares Brooklyn City R R., . 
94 " People's Trust Co., Brooklyn, 
15 " Hamilton Trust Co., Brooklyn, 

100 " American Telegraph & Cable Co. 

680 " Mercantile N'l Bank, N. Y., 
Louisville, New Albany & Chic. R.R. bonds, 
Chic , Milwaukee & St. Paul R.R. bonds, 
Western Railroad of Minnesota bonds, . 
350 shares Chicago & Alton R.R., . 
400 " First N'l Bank, Macon, Ga., . 

30 " U.S.Mtge.& Trust Co., New York, 

10 " Guaranty Trust Co., New York, 

20 " Hamilton Trust Co., Brooklyn, 
6 " State Trust Co., New York, . 
100 " N'l Shoe & Leather Bank, N. Y., 
St. Paul City R.R. bonds, . 
5,000 shares Union Pacific R.R., 
Central Ohio R R. bonds, . 
1,500 shares Baltimore & Ohio R.R , 
Col & Cinn. Midland R.R. bonds, . 
Cleveland Terminal & Valley R.R. bonds 
Virginia Midland R.R. bonds, . 
Lake Erie & Western R.R. bonds, . 
St. Louis, Iron Mountain & South'n R.R. b'ds 
West Chicago Street R.R. bonds, 
Indiana, Decatur & Western R.R. bonds, 
Ulster & Delaware R.R. bonds, 
Boston United Gas bonds, 
Canada Southern R R. bonds, . 
10 shares New York & Harlem R.R , 

9 " N. Y. New Haven & Hartford R.R. 

6 " National Park Bank, N. Y., . 
Atchison, Topeka & Santa Fe R.R. bonds, 



Market Value. 

$11,900 00 
4,600 00 

23,400 00 

23,500 00 
3,450 00 
9,500 00 
112,200 00 
5,800 00 
1,210 00 
1,150 00 

59,150 00 

47,200 00 
8,400 00 
4,000 00 
4,600 00 
1,380 00 
9,500 00 

18,400 00 
360,000 00 

37,800 00 
105,000 00 

94,000 00 
103,500 00 
3,180 00 
4,240 00 
3,210 00 
2,880 00 
1,030 00 
1,020 00 
3,680 00 
1,110 00 
1,800 00 
1,782 00 
2,070 00 

58,000 00 



I 



Loaned Thereon. 

$10,000 00 
3,700 00 

30,000 00 

5,500 00 
75,000 00 

5,000 00 

40,012 50 
40,000 00 



> 35,000 00 



\ 476,633 34 



► 15,000 00 



4,000 00 
40,000 00 



* Transferred from life and endowment, 2,836 policies, $7,246,700. 



144 



NEW YORK LIFE INSURANCE CO. 



Village of Richmond bonds, 

N. Y., Susquehanna & Western R.R. bonds, 

Kansas City Gas bonds, . 

St. Louis & San Francisco R.R. bonds, 

Union Pacific R.R. bonds, . 

Flushing, N. Y., School Dist. bonds, 

Western N. Y. & Penn. R.R. bonds, 

Union Pacific, Denver & Gulf R.R. bonds, 

Buffalo Gas Co. bonds, 

Minn., S. Ste. M. & Atlantic R.R. bonds, 

Adams Express Co. bonds, 

Central Pacific R.R. bonds, 

Chicago Terminal Transfer R.R bonds, 

St. Louis & San Francisco R.R. bonds, 

New York, Ontario & Western R.R. bonds, 

Mississippi River Bridge bonds, 

Little Miami R R. bonds, . 

Missouri Pacific R.R bonds, 

Western Pacific R.R. bonds, 

1,600 shares Great Northern R.R., 

Reading R.R. bonds, . 

Richmond & Danville R R. bonds, 

Montana Central R R. bonds, . 

N. Y. city bonds, 

Mass. State bonds, . 

N. Y. Central R.R. bonds, 

Montana Central R R. bonds, . 

United States bonds,. 

Chicago, Burl. & Quincy R.R. bonds, 

Eastern Railway of Minnesota bonds, 

People's Gas & Coke Co. bonds, 

Oregon Short Line R R. bonds, 

St Paul, Minn. & Man. R.R. bonds, 

Northern Pacific R.R. bonds, . 

Baltimore & Ohio R.R., . 

Northern Pacific R.R. bonds, . 

Oregon Short Line R.R. bonds, 

Chicago & Northwestern R.R. bonds, 

Union Pacific R.R. bonds, . 

Western N. Y. & Penn. RR. bonds, 

Chicago & Northwestern R.R. bonds, 

Reading RR. bonds, . 

South Carolina & Georgia R.R. bonds, 

Union Pacific, Denver & Gulf R.R. bonds, 

Baltimore & Ohio R.R bonds, . 

Pittsburg & Connellsville R.R. bonds, 

Baltimore & Ohio R.R bonds, . 

Union Pacific, Denver & Gulf R.R. bonds, 

Pittsburg & Connellsville R R. bonds, 



Market Value 

$97,580 00 ) 
11,000 00 
47,500 00 
63,500 00 
31,200 00 )■ 
23,800 00 
27,500 00 
65.250 00 
93,000 00 J 
6,060 00 
1,050 00 
378,000 00 ^ 
140,060 00 
17,250 00 
124,800 00 y 
41,000 00 
28,250 00 
12,430 00 J 
360,500 00 1 
224,000 00 I 
86,000 00 [ 
68,640 00 | 
11,300 00 J 
54,000 00 ' 
40,800 00 
54,500 00 
12,800 00 
4,920 00 
3,120 00 
18,900 00 
6,360 00 
1,300 00 
37,290 00 J 
510,000 00 
696,000 00 
255,000 00^ 
210,000 00 
101,000 00 
104,000 00 
75,900 00 
32,400 00 
238,220 00 
232,560 00 J 

32,190 00 

275,250 00 

5,000 00 

275,250 00 

33,060 00 

4,000 00 



Loaned Thereon. 



$350,000 00 



5,000 00 



600,000 00 



600,000 00 



)■ 200,000 00 



1,000,000 00 



> 1,000,000 00 



250,000 00 
250,000 00 



NEW YORK LIFE INSURANCE CO. 



145 



Utah & Northern R.R. bonds, . 

Atchison, Topeka & Santa Fe R.R. bonds, 

Oregon Short Line R.R. bonds, 

Reading R.R. bonds, .... 

St. Louis South Western R.R. bonds, 

Central Pacific R.R. bonds, 

3,000 shares Baltimore & Ohio, 

N. Y., Ontario & Western R.R. bonds, 

Rio Grande Western R.R. bonds, 

30 shares State Trust Co., N. Y., 

Baltimore & Ohio R.R. bonds, . 

Pittsburg & Western R R. bonds, 

Illinois Central R.R. bonds, 

St. Paul, Minn. & Manitoba R.R. bonds, 

Union Pacific R.R. bonds, . 

Ohio & Miss. RR. bonds, . 

N. Y., Ontario & Western R.R. bonds, 



Market Value. Loaned Thereon. 

$120,000 00 $100,000 00 
220,000 00^ 
403,700 00 
172,000 00 

85,000 00 } 

89,250 00 
210,000 00 

20,800 00 J 
302,250 00 
6,900 00 
534,130 00 

39,600 00 

89,300 00 

91,800 00 
104,000 00 

73,840 00 
260,000 00 J 



250,000 00 
6,000 00 



;> 1,000,000 oo 



1,229,702 00 $7,390,845 84 



Schedule B. 

Stocks and Bonds owned by the 

1,1331 shares Evansville & Terre Haute R.R., 
7,300 " Chic, Mil. & St. Paul R.R., 
10,000 " Chic. & Northwestern R.R., 
10,250 " Atch., Topeka & Santa Fe R'y 
1,500 " Ft. Wayne & Jack. R.R., . 
2,000 " Pennsylvania R.R., . 
1,000 " Southern Railway, . 
5,000 " Valley R.R., 
100 " American Exch. N'l B% N.Y. 
187 " Merchants' Nat'l Bank, N.Y., 
11 " N'l B'k of the Republic, N. Y. 
39 " Bank of America, N. Y., . 
1,000 " Central Nat'l Bank, N. Y., 
5,390 " N. Y. Security & Trust Co., 
700 " Mackey-Nesbitt Co., . 
10 " R.E. Exch. &Auc. Room, N.Y. 
United States bonds, . 
Alabama State bonds, 
Atlanta City, Ga., bonds, . 
Arizona Territory bonds, . 
Austin City, Texas, bonds, 
Butler County, Ohio, bonds, 
Callaway Count}', Missouri, bonds, 
Cuyahoga County, Ohio, bonds, 
Dallas City, Texas, bonds, 
Davidson County, Tenn., bonds, 



Company. 

Book Value. 

$11,333 33 
935,887 50 
1,350,000 00 
307,500 00 
168,656 90 
111,708 34 

22,500 00 
502,500 00 

10,000 00 

11,000 00 
900 00 

4,800 00 
140,000 00 
943,250 00 

11,550 00 

500 00 

2,989,027 04 

41,164 01 
132,710 71 

15,252 34 
171,976 41 

31,636 22 

1,000 00 

145,000 00 

445,938 15 

251,388 83 



Market Value. 

$14,166 67 

1,013,500 00 

1,650,000 00 

410,000 00 

187,500 00 

115,000 00 

30,000 00 

537,500 00 

16,500 00 

13,090 00 

1,650 00 

12,675 00 

150,000 00 

1,886,500 00 

12,250 00 

500 00 

.3,082,550 00 

50,400 00 

137,100 00 

15,300 00 

184,000 00 

31,800 00 

1,000 00 

145,000 00 

456,650 00 

252,500 00 



146 



NEW YORK LIFE INSURANCE CO. 



Douglass County, Neb., bonds, 

Essex County, N. J., bonds, 

Findlay, Ohio, bonds, 

Flatbush, N. Y., bonds, 

Fort Worth, Texas, bonds, 

Galveston City, Texas, bonds, 

Jersey City, N. J., bonds, 

Jefferson County, Alabama, bonds, 

Louisville City, Ky., bonds, 

Lincoln County, Wash., bonds, 

Long Island City, N. Y., bonds, 

Madison County, Ala., bonds, 

Middletown, Conn., bonds, 

Massachusetts State bonds, 

Mississippi State bonds, . 

Montgomery City, Ala., bonds, 

Morris County, N. J., bonds, 

Memphis City, Tenn., bonds, 

New York City bonds, 

Nashville City, Tenn., bonds, 

North Knoxville, Tenn., bonds, 

Norwalk, Conn., bonds, . 

Ottawa City, Canada, bonds, 

Petersburg City, Va., bonds, 

Pierce County, Wash., bonds, 

Peoria Township, 111., bonds, 

Province of Quebec bonds, 

Quebec City, Canada, bonds, 

Queen's Co., N. Y., bonds, 

Richmond City, Va., bonds, 

Ramsey Co., Minn., bonds, 

Rome, Ga., bonds, 

Seattle, Wash., bonds, 

St. Joseph, Mo., bonds, 

St. Paul, Minn., bonds, 

Sanitary Dist. of Chicago, 111., bonds, 

San Antonio, Texas, bonds, 

Multnomah Co , Ore., School District bonds, 

Spokane Co., Wash., School District bonds, 

Salt Lake City School District bonds, 

Salt Lake City bonds, 

Tazewell Co., 111., bonds, . 

Waco City, Texas, bonds, 

West Chicago Town, 111., bonds, 

Whatcom Co., Wash., bonds, . 

Whitman Co., Wash., bonds, . 

Austrian government bonds, . 

Brazilian government bonds, . 



Book Value. 

$81,412 03 

766,683 82 

15,300 49 

19,700 11 

219,292 62 

173,730 00 

1,065,013 17 

301,306 04 

300,000 00 

61,688 30 

264,462 40 

60,000 00 

51,165 11 

200,000 00 

19,638 98 

209,777 94 

355,345 98 

103,073 10 

2,394,748 69 

300,000 00 

100,000 00 

250,000 00 

105,384 43 

30,000 00 

348,994 99 

98,704 82 

85,201 34 

200,000 00 

1,531,943 80 

291,275 27 

41,088 51 

167,826 81 

499,275 13 

179,297 19 

192,699 09 

1,542,948 07 

235,329 44 

75,585 79 

96,547 66 

169,087 58 

347,283 22 

57,746 74 

30,000 00 

424,698 11 

203,537 94 

200,960 77 

2,087,015 17 

50,000 00 



Market Value. 

$81,600 00 

767,500 00 

15,450 00 

24,000 00 

220,000 00 

175,000 00 

1,148,930 00 

304,500 00 

2*500 00 

63,000 00 

264,462 40 

60,000 00 

51,500 00 

200,000 00 

20,000 00 

210,000 00 

357,000 00 

105,000 00 

2,412,750 00 

300,000 00 

100,000 00 

250,000 00 

107,000 00 

31,200 00 

352,800 00 

98,980 00 

86,400 00 

206,000 00 

1,531,943 80 

305,000 00 

41,200 00 

168,000 00 

500,000 00 

183,260 00 

218,000 00 

1,556,840 00 

238,000 00 

81,000 00 

96,750 00 

171,020 00 

354,045 00 

60,000 00 

30,000 00 

426,420 00 

206,000 00 

206,000 00 

2,089,627 19 

50,000 00 



NEW YORK LIFE INSURANCE CO. 



147 



Bulgarian government bonds, 
Cuba bonds, 

Havana treasury bonds, . 
Hungarian government bonds, 
Italian government bonds, 
Prussian government bonds, 
Russian government bonds, 
Servian government bonds, 
Swiss government bonds, . 
Swedish government bonds, 
Wurtemburg government bonds, 
Adirondack R.R. bonds, .... 
Albany & Susquehanna R.R. bonds, 
Atch., Top. & Santa Fe R.R. bonds, . 
Baltimore & Ohio R R. bonds, . 
Burlington, C. R. & No. R.R. bonds, 
Burlington & Mo. River R R. bonds, 
Buffalo, N. Y. & Erie R.R. bonds, . 
Buffalo, St. Mary's & Southwest'n R.R. bonds 
Canadian Pacific R.R. bonds, . 
Central R R. & Banking Co. of Ga. bonds, 
Central R.R. of N. J. bonds, 
Central Pac. of Cal. R.R. bonds, 
Cedar Rapids, I F. & No. W. R.R. bonds, 
Chateaugay Ore & Iron Co. R.R., N. Y., bonds 
Chicago, Burl. & Quincy R.R. bonds, 
Chicago, Mil. & St. Paul R.R. bonds, 
Chicago & Northwestern R.R. bonds, 
Chicago, St. Paul, M. & O. R.R. bonds, 
Chicago & W. Ind. R.R. bonds, 
Chicago & East. 111. R.R. bonds, 
Chicago & St. Louis R.R. bonds, 
Chicago, R. I. & Pac. R.R. bonds, . 
Chicago & Southwestern R.R. bonds, 
Chesapeake & Ohio R.R. bonds, 
Cincinnati, Hamilton & Dayton R.R. bonds, 
Cincinnati, Lafayette & Chicago R.R. bonds, 
Cincinnati, Sandusky & Cleveland R.R. bonds 
Cleveland, Col., Cinn. & Ind. R.R. bonds, 
Cleveland, Loraine & Wheeling R.R. bonds, 
Denver & Rio Grande R.R. bonds, . 
Detroit & Mackinac R.R. bonds, 
Delaware & Hudson Canal Co. bonds, 
Evansville & Ind. R.R. bonds, . 
Evansville & Terre Haute R.R. bonds, . 
Evansville, Terre Haute & Chic. R.R. bonds, 
East Tenn., Va. & Ga. R.R. bonds, . 
Eastern Railway of Minnesota bonds, 



Book Value. 

$19,000 00 

12,652 46 

17,046 03 

102,548 25 

971,313 84 

1,035,933 14 

3,849,549 49 

4,088 41 

19,128 23 

89,911 25 

45,139 81 

973,073 88 

805,407 02 

2,838,709 11 

250,000 00 

121,151 78 

473,295 38 

62,135 47 

95,007 92 

1,064,992 54 

894,696 14 

2,415,989 80 

1,000,000 00 

453,075 05 

488,671 79 

1,657,665 10 

708,840 30 

6,152,031 24 

1,183,419 54 

1,150,565 70 

333,922 48 

273,210 15 

2,566,442 51 

44,500 00 

616,383 93 

985,262 65 

167,249 97 

592,439 77 

1,395,496 86 

454,084 63 

671,532 18 

47,003 06 

281,297 73 

498,935 62 

479,504 31 

30,118 43 

505,000 00 

2,049,872 50 



Market Value. 

$19,068 40 

13,027 50 

21,594 73 

120,300 00 

1,008,117 99 

1,100,075 98 

4,011,296 50 

4,103 42 

19,203 50 

94,724 00 

45,220 00 

973,750 00 

865,595 00 

3,219,000 00 

250,000 00 

149,100 00 

479,450 00 

65,750 00 

95,500 00 

1,072,440 00 

900,000 00 

2,676,000 00 

1,000,000 00 

490,000 00 

490,000 00 

1,683,750 00 

788,250 00 

6,637,950 00 

1,344,000 00 

1,316,250 00 

362,200 00 

281,250 00 

2,581,250 00 

44,500 00 

715,000 00 

1,030,000 00 

168,245 00 

600,600 00 

1,585,000 00 

480,000 00 

760,000 00 

48,600 00 

336,000 00 

553,550 00 

515,000 00 

30,150 00 

555,500 00 

2,060,000 00 



148 



NEW YORK LIFE INSURANCE CO. 



Flint & Pere Marquette R.R. bonds, 
Fremont, Elkhoru & Mo. V. R.R. bonds, 
Georgia Southern & Fla. R R. bonds, 
Houston, East & West Texas R.R. bonds, 
Illinois Central R.R. bonds, 
Indianapolis & St. Louis R.R. bonds, 
Ind., Dec. & West R.R. bonds, 
Kal., Allegan. & G. R. R.R. bonds, . 
Kansas City Cable R.R. bonds, 
Kan. City, St. Jo. & C. B. R.R. bonds, 
Lake Erie & Western R.R. bonds, . 
Lake Shore & M. S. R.R. bonds, 
Long Dock Co. R.R. bonds, 
Lowell & Suburban R.R. bonds, 
Louisiana Western R.R. bonds, 
Louisiana & Missouri River R.R. bonds, 
Louisville & Nashville R.R. bonds, . 
Lehigh Valley R'y of N. Y. bonds, . 
Lehigh Valley Terminal R.R. bonds, 
Mahoning Coal R.R. bonds, 
Maysville & Lexington R R. bonds, 
Metropolitan Elevated, N. Y., R.R. bonds, 
Metropolitan St. R.R. bonds, . 
Memphis & Ohio R.R bonds, . 
Michigan Central R.R. bonds, . 
Milwaukee & Northern R.R. bonds, 
Minneapolis Union R.R. bonds, 
Milwaukee Elect. R'y & L. Co bonds, 
Morgan's La. & Tex. R.R. & S.S. bonds, 
Midland of N. J. R R. bonds, . 
New York C. & H. R. R R. bonds, . 
New York & Harlem R.R. bonds, . 
New York, L. E. & W. R.R. bonds, . 
New York, Lack. & West. R.R. bonds, 
New York, Ont & W. R.R. bonds, . 
New York, Susq. & W. R.R. bonds, 
Nash., Chat. & St. Louis R.R. bonds, 
Northern Pacific R.R. bonds, . 
Northern Illinois R.R. bonds, . 
No. West. Gr. Trunk (in Mich.) R R. bonds, 
Ohio, Indiana & Western R.R. bonds, 
Ohio & Mississippi R.R. bonds, 
Oregon Short Line R.R. bonds, 
Oregon R R. & Navigation bonds, . 

Panama R'y bonds 

Peoria, Decatur & Evans. R.R. bonds, 
Pitts., Cin. & St. Louis R.R. bonds, . 
Pitts., C, C. & St. Louis R.R. bonds, 



Hook Value. 

$109,760 91 

1,247,092 16 

99,369 00 

213,415 46 

3,545,831 32 
154,308 13 
422,250 00 
177,274 91 
250,000 00 
151,967 99 
924,703 86 
49,690 26 

1,207,075 74 
500,000 00 
312,498 27 
249,434 68 

1,824,067 05 
807,701 16 

1,008,791 93 

363,995 23 

47,317 67 

319,530 29 

1,044,898 43 
143,981 26 
52,147 24 
56,635 42 
510,857 96 
242,611 30 
867,264 50 
338,846 96 

1,081,817 50 

1,029,526 80 

3,943,297 61 

1,131,709 38 

92,300 07 

226,273 87 

339,112 22 

1,907,681 99 

498,103 16 

42,000 00 

307,587 34 

2,000,000 00 
907,753 91 
147,103 65 
500,000 00 
121,500 00 
51,186 19 

1,004,480 11 



Market Value. 

$115,0i- 

l,32.o 
100,000 00 
225,000 00 

3,588,000 00 
176,25' 
427,000 00 
186,301 
250,00' 
162,400 00 
924,75 
50,000 00 

1,325,000 00 
512,500 00 
315,000 00 
249,613 75 

1,824,825 00 
808,000 00 

1,080,000 00 

460,000 *00 

48,720 00 

369,150 00 

1,125,000 00 
144,450 00 
53,000 00 
57,500 00 
530,400 00 
250,000 00 
937,500 00 
368,000 00 

1,125,000 00 

1,030,"00 00 

4,325,000 00 

1,325,000 00 
100,000 00 
262,500 00 
350,000 00 

1,978,090 00 

525,000 00 

42.000 00 

309,000 00 

2,050,000 00 
915,000 00 
147,760 00 
500,000 00 
121,500 00 
51,250 00 

1,075,000 00 



NEW YORK LIFE INSURANCE CO. 



149 



Penn. Rolling Stock Trust bonds, . 
Raleigh & Gaston R.R. bonds, 
Rochester & Pittsburgh R.R. bonds, 
Seaboard & Roanoke R.R. bonds, . 
South & North Alabama R.R. bonds, 
South Carolina & Ga. R.R. bonds, . 
South Georgia & Fla. R.R. bonds, . 
Second Ave. R.R. bonds, . 
St. Paul, Min. & Man. R.R. bonds,. 
St. Paul & N. P. R.R. bonds, . 
Savannah, Fla. & West.-RR. bonds, 
St. Louis & San Francisco R.R. bonds, 
St. Lawrence & Adirondack R.R. bonds 
Southern Pac. of New Mexico R R. bonds, 
Taunton Street R'y bonds, . ' 
Taylor's Falls & L. S. R.R. bonds, 
Toledo & Ohio Cen. R.R. bonds, 
Toledo Traction Co. R.R. bonds, 
Texas & New Orleans R.R. bonds, 
Thirty-fourth St. Crosst'n R.R. bonds, 
Toronto, Hamilton & Buffalo R.R. bonds, 
Union Pacific R.R. bonds, 
Union R'y Co., N. Y., bonds, . 
Utah & Northern R.R, bonds, . 
Virginia & Tennessee R.R. bonds, 
West Shore R.R. bonds, . 
Western Transit Co. R.R. bonds, 
Wheeling & Lake Erie R.R. bonds, 
Wilmar & Sioux Falls R.R. bonds, 
Worcester & Suburban Street R'y bonds, 
American Safe Deposit Co. bonds, . 
American Dock & Imp. Co. bonds, 
American Cotton Oil Co. bonds, 
Brookline Gas Light Co. bonds, 
Brooklyn Union Gas Light Co. bonds, 
Equitable Gas Light Co. of N. Y. bonds, 
Equitable Illuminating Gas Light Co. bonds 
Kansas City, Mo., Gas Light Co. bonds, 
Madison Square Garden Co., N. Y., bonds, 
Mutual Fuel Gas Co. bonds, . 
People's Gas Light & Coke Co. of Chic, b'ds 
St. Paul, Minn., Gas Light Co. bonds, . 
Union Sav. B'k & Tr. Co., Tac, Wash., b'ds 
Western Union Telegraph Co. bonds, . 



Book Value. 

$300,000 00 
300,000 00 
186,404 05 
200,000 00 
442,320 26 
182,386 48 
40,000 00 
273,651 57 

2,455,925 08 

1,270,469 10 

1,052,163 37 
632,378 84 
250,000 00 
389,812 50 
328,173 38 
211,70 L 38 
248,788 73. 
233,832 76 
299,635 84 
196,391 93 
796,250 00 

1,800,000 00 
49,741 30 

2,097,217 73 
60,491 00 

1,000,000 00 
90,000 00 
382,725 83 
479,187 87 
100,000 00 
51,687 95 
400,818 12 
108,039 52 
249,006 44 
531,371 02 
142,000 00 
246,284 56 
243,922 16 
749,000 00 
117,536 74 
711,471 47 
799,237 09 
207,000 00 
428,097 28 



Market Value. 

$300,000 00 
300,000 00 
195,500 00 
200,000 00 
445,000 00 
200,450 00 
40,000 00 
275,000 00 

2,742,500 00 

1,518,000 00 

1,075,000 00 
654,000 00 
256,250 00 
389,812 50 
341,250 00 
222,600 00 
256,250 00 
240,000 00 
305,640 00 
196,875 00 
796,250 00 

1,900,000 00 
51,000 00 

2,118,000 00 
61,200 00 

1,080,000 00 
91,800 00 
400,000 00 
525,000 00 
100,000 00 
52,000 00 
450,000 00 
109,720 00 
250,000 00 
550,000 00 
143,420 00 
250,000 00 
244,062 50 
749,000 00 
118,750 00 
788,425 00 
830,000 00 
207,000 00 
474,075 00 



$120,219,120 12 8127,630,450 83 



150 



NORTHWESTERN MUTUAL LIFE INSURANCE CO. 



"NORTHWESTERN MUTUAL LIFE INSURANCE COMPANY," 

MILWAUKEE, WIS. 

[Incorporated March, 1857. Commenced business Nov. 25, 1858.] 

H. L. Palmer, President. J. W. Skinner, Secretary. 

Income. 

Received for premiums on new policies, $2,238,17:; 31 

Received for renewal premiums, 13,087,117 71 

Dividends applied to pay running premiums, .... 1,006,49 

Dividends applied to purchase paid-up additions and annuities, 266,230 94 

Surrender values applied to pay running premiums, . . 2,606 10 

Received for annuities, 33,906 53 



Total premium income, 



Received for interest, 

as discount on claims paid in advance, 
for rents of company's property, 

Premium notes or loans restored, 

Profit on securities sold, 

Commuted commissions refunded, . 

Profit and loss, 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



Total, 



116,634,530 67 

. 5,164,260 94 

5,4*9 85 

271,917 31 

8,013 76 

118,270 63 

28,823 81 

82,256 55 

$22,313,563 52 
. 98,406,878 80 



$120,720,442 32 



Disbursements. 

Paid for losses and additions, 

for matured endowments and additions, . 

on matured instalment policies, .... 

Gross amount paid for losses and endowments, 

Paid to annuitants, 

Premium notes or loans voided by lapse, 

Cash dividends paid policy holders, 

applied to pay running premiums, . 

applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, 

Surrender values applied to pay running premiums, 



Total paid polic}- holders, 

Cash paid forcommis'ns to agents (new policies, $956,626.98 
renewals, $1,045,692.93), .... 
for medical examiner's fees and inspections, . 
for salaries of officers and home office employees, 

for taxes on premiums, 

for taxes on investments, $32,352.79 ; on reserves, 
$10,309.62, 



$3,848,813 11 

774,616 00 

20,803 16 



$4,644,232 27 

5,731 79 

6,156 53 

576,287 75 

1,006,490 08 

266,236 94 

784,494 64 

2,606 10 



$7,292,236 10 



2,002,319 
142,252 
396,605 
178,610 



91 
42 
92 
04 



42,662 41 



NORTHWESTERN MUTUAL LIFE INSURANCE CO. 



151 



Cash paid for taxes on real estate, .... 
for fees, licenses and examination charges, 

for rent, 

for commuting commissions, . 

for advertising, printing and postage, 

for legal expenses, .... 

for furniture and office fixtures, 

for real estate expenses (except taxes), 

for loss on sales of property, . 

for incidentals, 

Profit and loss account, 



Total disbursements, . 
Balance, 



$86,578 37 

23,037 10 

35,300 00 

2,670 62 

121,883 87 

58,633 77 

2,783 58 

153,858 00 

2,842 49 

172,782 70 

56,530 97 

,771,588 27 



$109,948,854 05 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, .... 
Loans on mortgage of real estate (first liens), 
Loans on company's policies assigned as collateral 
Premium notes or loans on policies in force, . 
Book value of bonds owned (schedule A), 
Cash in company's office, . 
Cash deposited in bank, . 
Agents' debit balances, 

Total, 

Deduct agents' credit balances, etc., 

Total net or ledger assets, as per balance, 



$3,816,901 64 

72,012,604 79 

6,003,357 00 

320,346 55 

22,526,094 47 

282,111 75 

5,026,783 97 

7,710 71 

$109,995,910 88 
47,056 83 

$109,948,854 05 



Other Assets. 
Interest due, $411,585.47 ; accrued, $1,397,001.54, . 
Rents due, $1,507.16; accrued, $18,862.46, . 
Market value of bonds over book, .... 



1,808,587 01 

20,369 62 

1,673,302 01 



Uncollected premiums on poli- 
cies in force, .... 
Deferred premiums on policies 
• in force, .... 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

$776,685 00 $409,040 00 
192,550 00 1,139,255 00 



$969,235 00 $1,548,295 00 
193,847 00 309,659 00 



$775,388 00 $1,238,636 00 



Total assets, per company's books, 



2,014,024 00 
$115,465,136 69 



152 NORTHWESTERN MUTUAL LIFE INSURANCE CO. 

Items not admitted. 
Agents 1 debit balances, $7,710 71 



Total admitted assets, $115,457,425 98 

Deduct special deposits in other States, 12:3,582 00 



Balance, $115,333,843 98 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $88,694,241 00 

Present value of unpaid instalments, 210,025 30 

Death losses due and unpaid, .... $65,283 80 
Matured endowments due and unpaid, . . 38,174 00 

Death losses in process of adjustment, . . 444,573 43 
Claims resisted by the company, . . . 26,500 00 

Due and unpaid on annuity claims, $126.61 ; 

on instalment policies, $ 100, . . . 226 61 

Total policy claims, 574,757 

Unpaid dividends of surplus due policy holders, . . . 143,298 00 

Premiums paid in advance, 6,000 00 

Due for fees, commissions, expenses, etc., .... 74,516 50 
Special reserve for paid-up insurance claimable, . . . 382,490 00 
Surplus accumulation for tontine and semi-tontine policies, . 19,005,174 00 



Liabilities as to policy holders, $109,091,102 64 

Deduct liabilities on special deposits, 128,582 00 



1108,967,520 64 
Surplus as regards policy holders, 6,366,323 34 



Gross liabilities, $115,333,843 98 



Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $352,435 18 

rec'd during 1898 (old policies), 64,754 55 

restored by revival of policies, 8,013 76 

Total, . $425,203 49 

Used in payment of losses and claims, . . $22,011 21 

Used in purchase of surrendered policies, . 5,258 64 

Voided by lapse, 6,156 53 

Used in payment of dividends to policy holders, 46,035 6 1 

Redeemed by maker in cash, .... 25,394 95 

Total, 104.S56 94 



Balance note assets Dec. 31, 1898, $320,346 55 



NORTHWESTERN MUTUAL LIFE INSURANCE CO. 



153 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 134,230 $310,310,124 00 

Endowment, . . . 40,706 89,710,618 00 

All other, .... 3,526 13,060,628 00 

178,462 $413,081,370 00 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 

. 16,952 $41,510,788 00 
. 10,717 26,026,698 00 
. 1,873 5,545,490 00 



29,542 73,082,976 00 



Old Policies revived and changed. 



Whole life, 


• 


355 $605,766 00 




Endowment, 


• 


267 190,058 00 




All other, . 


• 


37 136,500 00 


659 932,324 00 
2,241,859 00 


Additions by 


dividends, 




663 $489,338,529 00 






Policies terminated during the Year 




Whole life, 


. 


. 8,087 $19,011,174 00 




Endowment, 


. 


. 3,457 7,396,298 00 




All other, . 


. 


. 1,097 5,218,319 00 









12,641 


$31,625,791 00 






How terminated. 


By death, . 




1,615 


$4,149,305 00 


maturity, 




385 


778,987 00 


expiry, . 




113 


2,175,492 00 


surrender, . 




2,466 


4,011,725 00 


lapse, . 




, 4,978 


9,322,016 00 


change and dec 


rease, 


67 


3,206,902 00 


Not taken, . 


• 


3,017 


7,981,364 00 

12,641 

rce Dec. 31, 1898. 




Polk 


)ies in Fo 


Whole life, 


, 


. 143,450 


$333,680,185 00 


Endowment, 


. 


. 48,233 


108,692,247 00 


All other, . 


• 


4,339 


15,340,306 00 

196,022 



31,625,791 00 



457,712,738 00 



154 



NORTHWESTERN MUTUAL LIFE INSURANCE CO. 



Schedule A. 
Bo?ids owned by the Company. 



Adair County, Mo., bonds, 

Adams County, Neb., bonds, 

Alabama State bonds, 

Albion, Mich., bonds, 

Allen County, Ind., bonds, 

Anderson County, Kan., bonds 

Athens County, Ohio, bonds, 

Atlantic City, N. J., bonds 

Bay City, Mich., bonds, 

Beatrice, Neb., bonds, 

Beloit, Wis., bonds, . 

Berkley, Va., bonds, . 

Bexar County, Tex., bonds, 

Birmingham, Ala., bonds, 

Blackford County, Ind., bonds, 

Boone County, Neb., bonds, 

Boston, Mass., bonds, 

Brooklyn, N. Y., bonds, . 

Buffalo County, Wis., bonds, 

Canton Union Sch. Dist, Fulton Co., Ill 

Calhoun County, Iowa, bonds, 

Cedar Rapids, Iowa, bonds, 

Cheyenne, Wyoming, bonds, 

Chicago Exposition bonds, 

C, M. & St. Paul R.R. bonds, 

Clay County, Minn., bonds, 

Cleveland, Ohio, bonds, . 

Clinton, Iowa, School District bonds 

Colorado Springs, Col., bonds, 

Colorado State bonds, 

Condi County, Tex., bonds, 

Dallas, Tex., bonds, . 

Dallas County, Tex., bonds, 

Davidson County, Tenn., bonds 

Dayton, Ohio, bonds, 

Dearborn County, Ind., bonds, 

Denton County, Tex , bonds, 

Denver, Col., bonds, . 

DeWitt County, Tex., bonds, 

Dodge County, Neb., bonds, 

Douglas County, Neb., bonds, 

Duluth, Minn., School District bonds 

Ellis County, Tex., bonds, 

El Paso County, Col., bonds, 



b'ds 



Book Value. 

fol,600 00 

40,000 00 

119,000 00 

50,000 00 

363,795 70 

25,000 00 

100,000 00 

100,000 00 

161,000 00 

63,000 00 

11,000 00 

25,000 00 

142,000 00 

110,000 00 

114,000 00 

20,000 00 

1,067,850 00 

500,000 00 

2,000 00 

18,000 00 

15,000 00 

10,000 00 

71,500 00 

190,555 25 

504,980 00 

40,000 00 

880,880 00 

38,000 00 

300,000 00 

223,000 00 

75,000 00 

66,000 00 

253,000 00 

265,000 00 

161,000 00 

24,000 00 

89,000 00 

269,000 00 

60,000 00 

50,000 00 

117,000 00 

150,000 00 

150,000 00 

38,000 00 



Market Value. 

£52,390 00 

40,272 00 

129,864 70 

59,885 00 

386,925 80 

27,625 00 

100,000 00 

112,730 00 

177,021 60 

63,000 00 

11,086 90 

27,920 00 

151,805 40 

55,000 00 

130,064 50 

20,776 00 

1,091,430 00 

545,525 00 

2,000 00 

20,694 20 

15,000 00 

10,049 00 

71,500 00 

194,392 80 

519,507 10 

45,448 00 

936,143 40 

38,813 20 

313,478 90 

237,584 20 

76,687 50 

66,000 00 

260,466 00 

290,105 00 

181,665 50 

28,533 60 

90,121 40 

273,357 80 

61,262 00 

50,245 00 

123,282 90 

173,835 00 

157,785 00 

39,934 20 



NORTHWESTERN MUTUAL LIFE INSURANCE CO. 



155 



Ehvood Township, 111., bonds, 
Enimett County, Iowa, bonds, 
Evanston, 111., bonds, 
Fayette County, Ind., bonds, 
Fillmore County, Neb., bonds, 
Fort Worth, Tex., bonds, . 
Frankfort, Ind., bonds, 
Freeport, 111., bonds, 
Fremont, Neb., bonds, 
Gage County, Neb., bonds, 
Galveston, Tex., bonds, . 
Galveston County, Tex., bonds 
Greene County, Ind., bonds, 
Greenfield, Ind., bonds, 
Hale County, Ala., bonds, 
Hamilton, Ohio, bonds, 
Hamilton County, Tenn., bonds 
Hancock County, Ind , bonds, 
Harris County, Tex., bonds, 
Hennepin County, Minn., bonds, 
Henry County, Ohio, bonds, 
Hopkins County, Tex., bonds, 
Idaho State bonds, . 
Jaspsr County, Ind., bonds, 
Jeffersonville, Ind., bonds, 
Jennings County, Ind., bonds, 
Kansas City, Kan., bonds, 
Kansas City, Mo., bonds, . 
Kearney, Neb., bonds, 
Kenton, Ohio, Union School District 
Knox County, Tenn., bonds, 
La Porte County, Ind., bonds, 
La Porte, Ind , bonds, 
Las Animas County, Col., bonds, 
Lebanon Village, Ohio, bonds, 
Lincoln, Neb., bonds, 
Lorain County, Ohio, bonds, 
Madison, Wis., bonds, 
Madison County, Ala., bonds, 
Mahaska County, Iowa, bonds, 
Mahoning County, Ohio, bonds, 
Manchester, Va., bonds, . 
Marion County, Ind , bonds, 
Marion County, Iowa, bonds, 
Marion County, Kan., bonds, 
Massachusetts bonds, 
McCracken County, Ky., bonds, 
Medina County, Ohio, bonds, . 



bonds, 



Book Value. 

$6,000 00 
5,000 00 
81,301 70 
15,000 00 
30,000 00 
69,000 00 
12,000 00 
28,008 00 
35,000 00 
48,000 00 
50,000 00 

100,000 00 
40,000 00 
23,000 00 
21,500 00 
50,000 00 

120,000 00 
35,000 00 

100,000 00 

200,000 00 

5,000 00 

65,000 00 

118,242 00 

154,737 50 
73,500 00 
55,000 00 

167,045 00 
50,000 00 
17,000 00 
42,500 00 

215,000 00 
90,000 00 
16,000 00 

119,500 00 
30,000 00 
25,000 00 

170,163 72 
15,000 00 
22,500 00 
30,000 00 

190,000 00 
32,500 00 
55,000 00 
18,000 00 
43,000 00 
2,250,000 00 

200,000 00 
5,500 00 



Market Value. 

$6,169 80 
5,000 00 
83,111 40 
16,391 25 
30,000 00 
76,141 50 
13,341 90 
29,102 40 
35,000 00 
48,235 20 
54,370 00 

103,200 00 
45,520 00 
27,561 60 
22,080 50 
60,579 00 

129,156 00 
38,716 30 

105,100 00 

243,380 00 

5,079 00 

67,366 00 

123,002 10 

168,138 50 
87,766 35 
64,120 50 

182,992 00 
52,520 00 
17,000 00 
49,507 75 

251,762 00 
93,096 00 
16,828 40 

124,208 30 
35,838 10 
25,312 50 

172,338 20 
16,039 50 
25,724 25 
31,065 00 

212,878 00 
33,283 25 
57,293 50 
18,510 60 
47,764 40 
2,530,350 00 

219,300 00 
5,568 05 



156 



NORTHWESTERN MUTUAL LIFE INSURANCE CO. 



Medina County, Tex., bonds, . 
Menard County, 111., bonds, 
Menominee, Mich., bonds, 
Mercer County, Ohio, bonds, . 
Milam County, Tex., bonds, 
Milwaukee, Wis., bonds, . 
Milwaukee & Northern R.R. bonds, 
Minneapolis, Minn., bonds, 
Montgomery County, Ala., bonds, 
Monroe County, Ind., bonds, . 
Monroe County, Wis., bonds, . 
Morrison County, Minn., bonds, 
Muskingum County, Ohio, bonds, 
Nashville, Tenn., bonds, . 
Neenah, Wis., bonds, 
Newark Township, Ohio, bonds, 
New York City bonds, 
North Chicago, 111., bonds, 
North Dakota State bonds, 
O'Brien County, Iowa, bonds, . 
Omaha, Neb., School District bonds 
Osage County, Kan., bonds, 
Osceola County, Iowa, bonds, . 
Ottawa, 111., bonds, . 
Ottumwa, Iowa, bonds, 
Owen County, Ky„ bonds, 
Paris, 111., School District bonds, 
Parkersburg, W. Va., bonds, . 
Pasadena, Cal., bonds, 
Pickaway County, Ohio, bonds, 
Polk County, Neb., bonds, 
Pittsylvania Co., Va., bonds, . 
Pulaski County, Ind., bonds, . 
Red Wing, Minn., bonds, . 
Reno County, Kan., bonds, 
Richland County, Wis., bonds,. 
Richmond, Va., bonds, 
Riverside, 111., bonds, 
Rush County, Ind., bonds, 
San Antonio, Tex., bonds, 
St. Croix County, Wis., bonds, . 
St. Louis County, Minn., bonds, 
Seymour, Ind., bonds, 
Sheboygan, Wis., bonds, . 
Spokane, Wash., bonds, . 
Spokane County, Wash., bonds, 
Springfield, 111., bonds, . 
Sterling, 111., bonds, . 



Book Value. 

-,000 00 

45,000 00 

44,000 00 

11,000 00 

106,300 00 

719,000 00 

240,060 00 

256,000 00 

100,000 00 

20,000 00 

35,000 00 

25,000 00 

50,000 00 

240,000 00 

60,000 00 

30,000 00 

1,046,575 00 

30,000 00 

50,000 00 

82,000 00 

34,000 00 

20,000 00 

50,000 00 

102,000 00 

35,000 00 

100,000 00 

18,000 00 

28,000 00 

53,000 00 

30,000 00 

10,000 00 

50,000 00 

40,000 00 

49,000 00 

95,000 00 

35,000 00 

100,000 00 

20,000 00 

160,000 00 

12,000 00 

55,000 00 

50,000 00 

25,000 00 

73,000 00 

527,645 00 

50,000 00 

12,700 00 

20,000 00 



Mai 

18,000 uO 
47,636 25 
51,378 80 
11,165 10 
110,00: 

750,090 40 

244,530 00 

292,073 10 

118,090 00 
22,615 00 
36,560 00 
28,860 00 
50,790 00 

261,950 00 
66,112 00 
32,871 30 
1,053,442 40 
33,069 00 
55,660 00 
82,000 00 
39,290 40 
20,354 00 
50,725 00 

115,193 10 
38,955 00 

121,050 00 
• 19,695 00 
30,366 00 
55,499 30 
32,143 50 
10,000 00 
58,930 00 
44,860 00 
52,724 30 

108,920 00 
36,432 00 

104,480 00 
21.270 00 

179,050 00 
15,062 40 
60,759 50 
55,530 00 
26,s23 50 
75,593 00 
I 00 
53.450 00 
13 
21,062 50 



THE PENX MUTUAL LITE INSURANCE CO. 



157 



Steubenville, Ohio, bonds, 
Tarrant County, Tex., bonds, . 
Tippecanoe Co., Ind., bonds, . 
Tipton Co., Ind., bonds, . 
Toledo, Ohio, bonds, 
Tuscola, 111., bonds, 
United States bonds, 
Utah Territory bonds, 
Utah State bonds, . 
Vincennes, Ind., bonds, . 
Wabash County, Ind , bonds, . 
Waco, Tex., bonds, . 
Walla Walla Co., Wash., bonds, 
Wapello County, la., bonds, . 
Washington County, Neb., bonds, 
Waupun, Wis., bonds, . 
Wayne County, Ind., bonds, . 
West Chicago, 111., bonds, 
White County, Ind., bonds, . 
Williamson County, 111 , bonds, 
Winston, N. C, bonds, . 
Woodbury County, Iowa, bonds, 
W^oodford County, Ky., bonds, 
Wyandotte County, Kan., bonds, 
Youngstown, Ohio, bonds, 



Book Value. 

$19,000 00 

272,000 00 

175,000 00 

85,000 00 

90,000 00 

20,000 00 

1,410,000 00 

218,638 00 

121,000 00 

22,000 00 

10,000 00 

71,000 00 

80,000 00 

35,467 40 

74,000 00 

27,000 00 

112,161 00 

1,420,000 00 

44,000 00 

80,000 00 

60,000 00 

303,000 00 

34,889 20 

196,500 00 

25,000 00 



Market Value. 

f21,511 35 

272,000 00 

186,165 00 

103,943 90 

91,410 00 

20,652 00 

1,585,118 00 

241,342 40 

128,865 00 

24,180 20 

10,111 50 

81,554 40 

80,832 00 

36,463 30 

80,652 60 

28,792 10 

118,585 40 

1,536,900 00 

47,137 50 

84,358 00 

62,214 00 

318,273 10 

35,701 45 

210,709 95 

27,011 70 



$22,526,094 47 $24,199,396 48 



"THE PENN MUTUAL LIFE INSURANCE COMPANY," 
PHILADELPHIA, PA. 

[Incorporated Feb. 24, 1847. Commenced business May 25, 1847.] 

Harry F. West, President. Henry C. Brown, Secretary. 

Income. 

Received for premiums on new policies, $989,148 92 

Received for renewal premiums, 4,513,201 68 

Dividends applied to pay running premiums, . . . . 717,983 20 

Dividends applied to purchase paid-up additions and annuities, 151,992 85 

Surrender values applied to pay running premiums, . . 59,379 19 
Surrender values applied to purchase paid-up insurance and 

annuities, 139,145 00 

Received for annuities, 86,409 24 

Total $6,657,260 08 

Deduct amount paid for reinsurance, 1,917 45 



Total premium income, 



. $6,655,342 63 



158 



THE PENN MUTUAL LIFE INSURANCE CO. 



Received for interest, $1,486,909 81 

Received for rents of company's property, .... 131,298 46 

Profit on securities sold, 87,761 16 

Profit and loss account, 9,992 46 

Total income, 18,371,304 51 

Net or ledger assets Dec. 31, 1897, 30,929,47 

Total, $39,300,778 07 



Disbursements. 

Paid for losses and additions, 

for matured endowments and additions, . 

on matured instalment policies and additions, 

Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Net amount paid for losses and endowments, . 

Paid to annuitants, 

Premium notes or loans voided by lapse, 

Cash dividends applied to pay running premiums, . 

Cash dividends applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, 

applied to pay running premiums, 
applied to purchase paid-up insurance and 
annuities, 



Total paid policy holders, 

Cash paid for commissions and bonuses to agents (new poll 
cies, $ 504,436. 35 ; renewals, $300,958.91), . 

for salaries and allowances to managers and agents 

for medical examiner's fees and inspections, . 

for salaries of officers and home office employees, 

for taxes on premiums, . 

for taxes on investments, $77,143.17 ; on reserves 
$7,9 14 . 02 ; internal revenue, $15,680 .66, . 

for taxes on real estate, . 

for fees, licenses, etc., 

for rent, .- 

for advertising and printing, 

for legal expenses, . 

for furniture and office fixtures, 

for real estate expenses (except taxes), 

for incidentals, 

On account depreciation, 



Total disbursements, 
Balance, 



$1,567,198 85 

412,014 00 

25,328 81 



$2,004,541 66 
10,000 00 



,994,541 66 

38,759 97 

38,451 69 

717,983 20 

151,992 

499,377 87 

59,379 19 

139,145 00 



$3,639,631 43 

805,395 26 
90,978 84 
71,671 40 

148,22i> 27 
77,969 06 

100,737 

50,288 70 

14,621 06 

40,281 44 

35,653 44 

8,903 24 

4,652 43 

17,869 17 

96,176 40 

112.22' 



$5,315,275 53 
$33,985,502 54 



THE PENN MUTUAL LIFE INSURANCE CO. 159 



Invested in the following : — 



o 



Assets as per Ledger Accounts. 

Value of real estate, $2,775,370 31 

Loans on mortgage of real estate (first liens), . . . 13,157,321 87 

on collateral security (schedule A), . . . 2,509,113 92 

on company's policies assigned as collateral, . . 2,513,657 00 

Premium notes or loans on policies in force, .... 996,974 39 

Book value of stocks and bonds owned (schedule B), . . 11,274,854 40 

Cash in company's office, 1,718 21 

Cash deposited in bank, 514,100 00 

Bills receivable, 131,180 27 

Agents' debit balances, 4,096 51 

Furniture, 10,000 00 

Cash notes taken for premiums, 103,021 32 



Total, $33,991,408 20 

Deduct agents' credit balances, 5,905 66 



Total net or ledger assets, as per balance, . . $33,985,502 54 

Other Assets. 

Interest due, $86,075.31; accrued, $214,029.04, . . . 300,104 35 
Rents due, $5,861.89; accrued, $3,721.98, .... 9,58387 

Market value of stocks and bonds over book, .... 487,982 54 

New Business. Renewals. 

Uncollected premiums on poli- 
cies in force $167,899 79 $255,881 15 

Deferred premiums on policies 
in force, 96,296 37 434,026 22 



Total, $264,196 16 $689,907 37 

Deduct loading (20 per cent.), . 52,839 23 137,981 47 



Net amount of uncollected and 
deferred premiums, . . $211,356 93 $551,925 90 



763,282 83 
Total assets, per company's books, .... $35,546,456 13 

Items not admitted. 



Office furniture, 
Agents' debit balances, 
Bills receivable, 
Loan in excess of market value, 
Total, 



Total admitted assets, 
Deduct special deposits in other States, 

Balance, 



$10,000 00 

4,096 51 
131,180 27 

7,977 00 
153,253 78 



$35,393,202 35 
11,175 00 

$35,382,027 35 



160 



THE PENN MUTUAL LIFE INSURANCE CO. 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (actuaries 1 4 per cent.), . 
Deduct net value of reinsured risks, 

Net reserve, 

Present value of unpaid instalments, 

Trust deposits, 

Death losses in process of adjustment, 
Unpaid dividends of surplus due policy holders, 
Life rate endowment fund,* .... 
Premiums paid in advance, .... 
Scrip outstanding, 

Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 

Surplus as regards policy holders, . 
Gross liabilities, . 



830,480,167 00 

48,777 00 

830,431,390 00 

216,073 00 

21,322 00 

142,941 87 

64,089 62 

475,205 00 

24,117 25 

8,580 00 

$31,384,318 74 

11,175 00 

$31,373,143 74 

4,008,883 61 

$35,382,027 35 



Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $947,935 11 
Premium notes received during 1898 (new 

policies, 89,425; old policies, 8261,557.75), . 270,982 75 

Total, 

Used in payment of losses and claims, . . 832,959 30 

Used in purchase of surrendered policies, . 56,637 79 

Voided by lapse, 38,451 69 

Used in payment of dividends to policy holders, 73,048 70 

Redeemed by maker in cash, .... 20,845 99 

Total, 



$1,218,917 86 



Balance note assets Dec. 31, 1898, 

Exhibit of Policies. 



221,943 47 
8996,974 39 



Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

$96,546,657 00 
38,822,814 00 
11,036,213 00 



Whole life, . . . 38,343 

Endowment, . . . 17,421 

All other, .... 3,647 
Reversionary additions and 

return premiums, . . - 



1,567,883 00 



59,411 $147,973,567 00 



* The life rate endowments to which this fund belongs are described by the company as that 
class of policies payable at death or at such time prior as the reserve added to the accrued and 
accumulated dividends to their credit shall equal the face of the policy. In previous years this 
fund has been stated at a larger amount than in the present, in explanation of which the com- 
pany says that heretofore there had been erroneously included credits on deferred dividend 
policies belonging in the surplus funds. 



THE PENN MUTUAL LIFE INSURANCE CO. 



161 



Whole life, 
Endowment, 
All other, 



Policies issued during the Year. 

Number. Amount. Total No. Total Amount. 

. 7,952 $20,315,859 00 
. 2,972 7,061,208 00 
. 1,997 6,503,310 OQ 
12,921 $33,880,377 00 



Whole life, 
Endowment, 
All other, . 



Old Policies revived. 

344 $596,955 00 

202 238,119 00 

595 1,527,593 00 



1,141 2,362,667 00 



Old Policies changed and increased. 



Whole life, 

Endowment, 

All other, .... 

Additions by dividends, . 
Total, 



33 
6 
6 



$169,126 00 

33,812 00 

5,480 00 



45 



208,418 00 
913,919 00 



73,518 $185,338,948 00 



Policies terminated during the Year. 

Whole life, . . . 4,403 $11,055,574 00 
Endowment, . . . 1,907 4,359,608 00 
All other, .... 1,410 4,399,464 00 



7,720 $19,814,646 00 





How terminated. 






By death, . 


647 


$1,692,159 00 






maturity, 


175 


422,921 00 






expiry, 


343 


963,408 00 






surrender, . 


. 1,328 


3,124,845 00 






lapse, . 


. 2,919 


6,684,435 00 






change and decrei 


ise, . 68 


684,459 00 






Not taken, 


. 2,240 


6,242,419 00 


7,720 


19,814,646 00 



Policies in Force Dec. 31, 1898. 

Whole life, . . . 42,269 $106,573,023 00 

Endowment, . . . 18,694 41,796,345 00 

All other, .... 4,835 14,734,436 00 

Reversionary additions, . - 2,420,498 00 



65,798 165,524,302 00 



162 



THE PENN MUTUAL LIFE INSURANCE CO. 



Schedule A. 



72 shares F'ford & Sou'ark Phila. R.R. Co., 
1,125 " Cambria Iron- Co., 
Life insurance policies, 
City of Lynchburg, Va., bonds, 

50 shares Phila Trust, Safe De. & Ins 



Securities held as Collateral. 

Market Value. 

$29,664 00 

47,250 00 

3,900 15 



1,000 
100 
135 
500 
300 
200 
100 
407 
50 



Co 



Co 



Camden Horse R R. Co., 
Philadelphia Traction Co., 
Fford & Sou'ark Phila. R.R 
Metropolitan St. R'y Co., 
Union Traction Co , 
Pittsburg Con sol. Traction Co., 
Philadelphia Traction Co., . 
Atlantic City Gas & Water Co., 
Thirteenth & Fifteenth St. R'y Co. 
Alton Railway & Ilium. Co. bonds, . 
Kansas City Gas Co. bonds, 
500 shares Sunbury & Lewistown R'y Co., 
250 " Camden Gas Light Co., . 
Millville Mfg. Co. bonds, .... 
New Chester Water Co. bonds, 
453 shares Philadelphia Traction Co., 
Metropolitan St. R'y Co. certificates, 
Mortgage Trust Co. of Penn. bonds, 
86 shares Philadelphia Traction Co., 
50 " Girard Life Ins., Ann. & Trust Co., 
290 " Land, Title & Trust Co., 
Reading Co., Phila. & R. Coal & Iron Co. bonds 

25 shares Pennsylvania R.R. Co., 
2,000 " Phila & Reading R.R. Co., . 
105 " Consol. Traction Co. of N. J., 
Consolidated Traction Co. of N. J. bonds, 
Phila., Reading & New England R.R. bonds, 
265 shares Minnesota Title, Ins. & Trust Co., 
Lehigh Valley R.R. bonds, 

500 shares Metropolitan St. R'y Co., 
2,000 M Union Traction Co., . 
100 " United Gas Improvement Co., 
200 " United Gas Improvement Co., 
200 " United Gas Improvement Co., 
Electric & People's Traction certificates, . 
Assignment of mortgages, 
Perkiomen R.R. bonds, .... 
500 shares Choc , Oklahoma & Gulf R.R. Co., 
100 " Penn. Mfg. Light & Power Co., . 



16,900 00 

23,100 00 

75,000 00 

9,500 00 

55,620 00 

95,500 00 

9,600 00 

12,000 00 

9,500 00 

14,245 00 

13,250 00 

26,500 00 

41,160 00 

37,500 00 

27,500 00 

8,160 00 

14,700 00 

43,035 00 

2,360 00 

3,000 00 

8,170 00 

23,750 00 

43,500 00 

880 00 

1,525 00 

21,000 00 

5,985 00 

5,450 00 

14,060 00 

13,250 00 

7,980 00 

95,500 00 

64,000 00 

12,800 00 

25,600 00 

25,600 00 

2,910 00 

9,900 00 

2,040 00 

18,800 00 

2,400 00 



} 



} 



Loaned Thereon. 

$20,000 00 
39,000 00 

14,000 00 
16,000 00 
50,000 00 
2,000 00 
40,000 00 

100,000 00 

5,000 00 

10,000 00 

3,000 00 

52,500 00 

25,000 00 
20,000 00 

15,000 00 

15,000 00 

1,500 00 

6,000 00 

15,600 00 

25,000 00 

600 00 

700 00 

20,000 00 

22,037 00 

11,400 00 

3,000 00 

100,000 00 

8,000 00 
19,000 00 

22,300 00 

5,000 00 
1,500 00 

15,000 00 



THE PENN MUTUAL LIFE INSURANCE CO. 



163 



Comptroller's warrants, city of Trenton, N. J., 
Baltimore & Northern Elec. R'y Co. bonds, . 
100 shares Pitts , Ft Wayne & Chic. R'y Co., . 
57 " N. Y. Cent. & Hudson R. R.R. Co., 
54 " United New Jersey R.R. &CanalCo., 
33 " Fire Association of Phila., 
56 " Philadelphia Traction Co., 

299 " Union Traction Co., 

200 " United Gas Improvement Co., 
100 " Hunt. & Br'd Top Mt. R.R. & C. Co 

300 " Electric Storage Battery Co., . 
100 " Northern Pacific R'y Co., 

200 " Fenn. Manuf., Light & Power Co., 

Phila. Electric certificates, 

150 shares Trenton, N. J., Tr't & S. Dep. Co., 

600 " United Gas Improvement Co., 

900 " Northern Pacific R'y Co., 

200 " Phila. Traction Co., 

300 " Union Traction Co., 
40 " Pennsylvania R.R. Co., . 

200 " Phila. Traction Co., 

Electric & People's Traction certificates, . 

1,049 shares Union Traction Co., 
33 " Chicago City R'y Co., . 
17 " United Gas Improvement Co., 
10 " American Tobacco Co , 

West Chicago St R.R. bonds, . 

Ogden St. Railway bonds, 

North Chicago St. Railway bonds, . 

Millville, N. J., Manuf. Co. bonds, . 

Mays Landing, N. J., Water Power Co. bonds, 

Mays Landing, N. J., Water Power Co. bonds, 

Millville, N. J , Manuf, Co. bonds, . 

Texas Pacific Railway bonds, . 

Southern Railway bonds, . 

Chesapeake & Ohio Railway bonds, 

Northern Central Railway bonds, . 

Electric & People's Traction certificates, 

Oregon Short Line Railway bonds, . 

300 shares United Gas Improvement Co., 

259 " Consol. Traction Co. of Pittsburg, 
50 " Oregon Short Line Railway Co., 

100 " Welsbach Light Co., 

Bay State Gas Co. bonds, . . 

Phila., Reading & N. E. R R. bonds, 

Dutchess County R R. bonds, . 

Union Pacific, Denver & Gulf R.R. bonds, 

50 shares Fidelity Ins., Trust & Safe Dep. Co., 



Market Value. 

$35,000 00 

115,000 00 

17,900 00 

6,954 00 

14,040 00 

11,715 00 

5,320 00 

9,568 00 

25,600 00) 

4,350 00 

18,300 00 

4,400 00 

4,800 00 

10,200 00 J 

16,050 00 

76,800 00 

57,750 00) 

19,000 00 ' 

9,600 00 

2,440 00 j 

19,000 00) 

32,010 00 j 



Loaned Thereon. 

$35,000 00 
85,000 00 

26,500 00 
19,920 00 

j> 50,000 00 



5,000 00 
50,000 00 

)> 58,500 00 



33,568 00 



9,900 00 J 
2,176 00 ) 
1,420 00 S 
95,050 00 n 
10,500 00 S 
21,000 00 ) 
40,800 00 ) 
18,000 00 S 
22,500 00 ) 
61,200 00 S 
27,250 00) 
5,300 00 
3,540 00 
5,900 00 
9,700 00 
14,100 00 | 
38,400 00 
15,540 00 
2,100 00 
3,900 00 J 
27,690 00) 
4,400 00 j 
5,600 00 I 
17,400 00 j 
22,250 00 J 



67,900 00 

1,500 00 

100,000 00 

40,000 00 
60,000 00 



!> 70,000 00 



55,000 00 



164 



THE PENN MUTUAL LIFE INSURANCE CO. 



Cortlandt & Homer Traction Co. bonds, . 
40 shares Fidelity Trust, Ins. & Safe Dep. Co., 
Durham, N. C, bond, .... 
City of Charleston, W. Va., school bond, 

200 shares Equitable Ilium. Gas Light Co., 

100 " Consol. Traction Co., Pittsburg, 

900 " Union Traction Co., 
1,000 " Penn. Manuf. L't & Power Co., 
1,000 " Northern Pacific R'y Co., . 

200 " United Traction Co. of Pittsburg 

240 " Westinghouse Air Brake Co., 
Equitable Ilium. Gas Light Co. bonds, . 
125 shares Harrisburg, Pa , City Pass. R'y Co., 

20 " Mid., High. & Steelton St. R'y Co., 
75 " Second & Third St. Pass. R'y Co., . 

18 " Frankford & So'rk Phila. R.R. Co., 
51 " Catawissa R.R., 
North Carolina bonds, 
A. & P. Roberts Co. bonds, 
Easton & Amboy R.R. bonds, . 
Electric & People's Traction certificates, 
20 shares United N. J. R.R. & Canal Co., 
United States Leather Co. bonds, 
Texas & Pacific Railway bonds, 
Marion, Ohio, Water Co. bonds, 
50 shares Marion, Ohio, Water Co., . 
Shelbyville, Ind., W. & L. Co. bonds, 
72 shares Shelbyville, Ind., W. & L. Co., 
Warsaw, Ind., Water Co. bonds, 
27 shares Warsaw, Ind., Water Co., 
Shelbyville, 111., Water Co., bonds, . 
30 shares Shelbyville, 111., Water Co., 
Lawrence, Kan., Water Co. bonds, . 
30 shares Lawrence, Kan., Water Co., 
Paola, Kan., Water Co. bonds, . 
25 shares Paola, Kan., Water Co., . 
Crawfordsville, Ind , Water & Light Co. b'ds 
Richfield School District, Kan., bonds, 
Abilene, Kan., Water Co. bonds, 
300 shares Abilene, Kan., Water Co., 
Topeka, Kan., Water Co. bonds, 
10 shares Topeka, Kan., Water Co , 
Cape Girardeau Southw. R.R. bonds, 
Consolidated Gas & Electric Light Co. bonds 
American Debenture Co. bonds, 
Toledo & Ohio Central R.R. bonds, 
Marietta R'y bonds, . 
65 shares Marietta R'y Co., 
Mortgages assigned, 



Market Value. 

840,500 00 

17,800 00 

1,030 00 

1,100 00 

21,000 00^1 

4,800 00 

28,800 00 

24,000 00 

44,000 00 

4,200 00 ) 

40,800 00 

1,100 00 

8,125 00 

2,000 00 

20,625 00 

7,416 00 

2,652 00 

6,550 00 

125,000 00 

5,400 00 

2,910 00 

5,200 00 

6,960 00 

6,540 00 

3,500 00 

250 00 

5,040 00 

360 00 

2,000 00 

135 00 

1,758 00 

150 00 

1,380 00 

150 00 

940 25 

125 00 

3,460 00 

2,400 00 

11,800 00 

1,500 00 

2,400 00 

50 00 

2,000 00 

4,750 00 

2,000 00 

5,400 00 

13,000 00 

325 00 J 

360,100 00 



Loaned Thereon. 

120,000 00 
14,000 00 

1,000 00 



100,000 00 


26,200 00 


500 00 


4,000 00 


15,000 00 


8,000 00 


5,000 00 


100,000 00 



10,000 00 



10,000 00 



)> 61,556 92 



360,100 00 



THE PENN MUTUAL LIFE INSURANCE CO. 



165 



United States bonds, 

Boston United Gas bonds, . 
Penn. & N. Y. Canal & R.R. Co. bonds, . 
1,400 shares West Chic. St. R'y Co., 
Comptroller's warrants, city of Trenton, N. J., 
Comptroller's warrants, city of Trenton, N. J., 

800 shares Penn. R.R. Co., . 
1,200 " Reading Co., 
Central R R. of N. J. bonds, 
United N. J. R.R. & Canal Co. bonds, 

5 shares Trenton Trust & Safe Dep. Co., 
125 " Union Traction Co., 
450 " Union Traction Co., 

24 " Phila. Traction Co., 

6 " Westinghouse Air Brake Co., 
500 " United Gas Improvement Co., 



Loaned Thereon. 

$2,000 00 
40,000 00 

100,000 00 
50,000 00 
20,000 00 

50,000 00 

23,000 00 

500 00 
2,800 00 

13,000 00 

45,000 00 
1,338,791 40 $2,509,113 92 



Market Value. 

$2,260 00 
38,640 00 
10,200 00 
128,800 00 
50,000 00 
20,000 00 
48,800 00 
12,600 00 

5,750 00 

23,000 00 

535 00 

4,000 00 
14,400 00 

2,280 00 

1,020 00 
64,000 00 



Schedule B. 

Stocks and Bonds owned by the Company. 

Par Value. Market Value. 

Abington Twp., Montgomery Co., Pa., bonds, . $20,000 00 $21,700 00 

Akron, Ohio, Gas Co. bonds, .... 50,000 00 50,625 00 

Alexandria County, Va , bonds, . . . 20/. 00 00 21,600 00 

Allegheny Valley R.R. bonds, .... 101,000 00 115,080 00 

Allent'n & Bethlehem, Pa., Rap. Tr. Co. bonds, 100,000 00 113,000 00 

Atchison, Topeka & Santa Fe R'y Co. bonds, . 100,000 00 100,000 00 

Atlantic City, N. J., bonds, .... 40,000 00 49,200 00 

Austin, Tex , Water Co. & W., L. &P. Co. cert's, 12,500 00 12,500 00 

Baltimore, Md., bonds, 100,000 00 104,250 00 

76 shares Bank of North America, Phil.,. . 7,600 00 19,228 00 

Beatrice, Neb., bonds, 23,000 00 23,000 00 

Boonville, Mo., Water Co. bonds, . . . 50,000 00 50,375 00 

Bridgeport, Conn , Traction Co. bonds, . . 50,000 00 53,000 00 

Brooklyn, N. Y., Wharf & Warehouse Co. b'ds, 100,000 00 93,000 00 

Buffalo & Susquehanna R.R. bonds, . . 50,000 00 50,625 00 

Burlington, la., Water Co. bonds, . . . 30,000 00 31,200 00 

Central of Georgia R'y bonds, .... 100,000 00 92,250 00 

Central Railway Co. of Peoria, 111., bonds, . 52,000 00 55,640 00 

Central Pacific Railway Co. bonds, . . . 100,000 00 105,000 00 

Cham. & Urb., 111., W. & E. L. Co. bonds, . 100,000 00 101,000 00 

Charleston, W. Va., bonds, .... 70,000 00 82,130 00 

Cheltenham Twp., Montgomery Co., Pa., bonds, 66,500 00 70,490 00 

Chester, Pa., bonds 85,000 00 87,925 00 

Chicago & Erie R.R. bonds, .... 50,000 00 56,000 00 

Chicago North Shore Street Railway bonds, . 100,000 00 107,500 00 

Chicago, 111., Sanitary District bonds, . . 50,000 00 52,375 00 

Chicago & West Michigan R'way bonds, . . 100,000 00 87,500 00 



166 



THE PENN MUTUAL LIFE INSURANCE CO. 



Chic, Hammond & West. R.R. bonds, 
Chic, Rock Island & Pac R'way bonds, . 
Chic, Mil. & St. Paul R'way bonds, . 
Chillicothe, , Gas & Water Co. bonds, . 
Cleveland City Cable R'way bonds, 
Cleveland, Lorain & Wheeling R'way bonds, 
Cornwall & Lebanon R.R. bonds, 
Cornwall & Lebanon Car Trust cert's, 
Craven County, N. C, bonds, . 
500 shares Delaware Ins. Co., Phila., 
Delaware River R.R. & Bridge Co. bonds, 
DuBois, Clearfield Co., Pa , bonds, . 
Duluth, Minn., St. R'y bonds, . 
Duquesne Club, Pittsburg, Pa., bonds, 
Duquesne Traction Co., Pittsburg, Pa., bonds 
Durham, N. C, bonds, .... 
Dutchess County R.R. bonds, . 
East Cleveland, O., R.R. bonds, 
Elgin, Joliet & Eastern R'y bonds, . 
Equitable Gas Light Co. of N. Y. bonds, 
Equitable 111. Gas Light Co. of Phil, bonds, 
Erie & Pittsburg R.R. bonds, . 
Fairinount Park Transport. Co., Phila., bonds 
Fernandina, Fla., bonds, . 
Findlay, O., bonds, .... 
Fort Pitt Traction Co. bonds, . 
Freeport, 111., Water Co. bonds, 

50 shares Girard National Bank, Phila 
1,000 " Grand Rapids & Indiana R'y Co. 
Hamilton & Rossville, O., Hydraulic Co. bonds 
Hastings, Neb., bonds, .... 
Hazleton City, Pa., School District bonds, 
Hazleton, Pa., bonds, .... 
Hestonville, Mantua & Fairmount R.R. bonds, 
Hudson Riv. Water Power & Paper Co. bonds, 
Hutch., Kan., Water, Light & Power Co. bonds, 
Independence, Kan., bonds, 
Indianapolis, Ind., notes, .... 
Illinois Central R.R. bonds, 
Jacksonville & St. Louis R'y bonds, 
Jacksonville Southeastern R'y bonds, 
Jamestown, N. Y., Water Supply Co. bonds, 
Jersey City, N. J., bonds, 
Johnstown, Pa., School District bonds, . 
Joliet, 111., Gas Light Co bonds, 
Joplin, Mo., Water Co. bonds, . 
Kansas City, Mo., Cable R'y bonds, 
Lake Erie & Western R.R. bonds, . 
Lehigh Valley R.R. bonds, 



Par Value. 

|100,000 00 

100,000 00 

100,000 00 

83,500 00 

100,000 00 

100,000 00 

30,000 00 

17,000 00 

24,500 00 

12,500 00 

100,000 00 

46,000 00 

50,000 00 

121,000 00 

75,000 00 

20,000 00 

15,000 00 

30,000 00 

100,000 00 

75,000 00 

100,000 00 

170,000 00 

100,000 00 

27,000 00 

25,000 00 

75,000 00 

94,000 00 

2,000 00 

50,000 00 

33,000 00 

113,000 00 

33,000 00 

35,000 00 

50,000 00 

50,000 00 

58,000 00 

15,200 00 

50,000 00 

100,000 00 

73,750 00 

17,000 00 

150,000 00 

100,000 00 

133,000 00 

50,000 00 

60,000 00 

100,000 00 

25,000 00 

150,000 00 



Market Value. 

$128,500 00 

106,750 00 

109,000 00 

84,195 

105,000 00 

109,000 00 

31,950 00 

17,340 00 

25,235 00 

12,000 00 

107,000 00 

50,255 00 

47*500 00 

122,008 33 

85,500 00 

20,600 00 

12,000 00 

32,400 00 

104,000 00 

88,875 00 

110,000 00 

172,975 00 

107,5<<0 00 

30,172 50 

27,000 00 

83,250 00 

96,350 00 

3,250 00 

7,5u0 00 

33,000 00 

117,715 00 

34,980 00 

36,750 00 

58,500 00 

51,500 00 

58,000 00 

15,988 00 

51,000 00 

96,000 00 

26,762 50 

14,960 00 

154,500 00 

104,000 00 

137,810 00 

51,250 00 

61,200 00 

102,500 00 

29,937 50 

152,000 00 



THE PENN MUTUAL LITE INSURANCE CO. 



167 



Lima, 0., bonds, 

Lincoln City, Neb , bonds, 

Lincoln, Neb., Gas Co. bonds, 

Lorain, O., bonds, 

Lynchburg, Va., bonds, . 

Mahanoy City, Pa., bonds, 

Martin's Ferry, O., bonds, 

McKeesport, Pa., School District bonds, 

Metropolitan Ferry Co., N. Y., bonds, 

Metropolitan St. R'y Co., N. Y., bonds, 

Middletown, Pa , School District bonds, 

Minneapolis & Duluth R.R. bonds, . 

Minneapolis & St. Louis R.R. bonds, 

Montgomery, Ala., water bonds, 

Mt. Pleasant, Pa., bonds, . 

Nebraska, Neb., bonds, 

Newark, N. J., Pass. R'way Co. bonds, 

Newark, N. J, Consol. Gas Co. bonds, 

New Brighton, Pa., School District bonds, 

N. Y., Phila. & Norfolk Car Trust cert's, 

Norfolk & Western R'y Co. bonds, . 

Norfolk, Va., bonds, 

North Chicago, 111., St. R'y Co. bonds, . 
North East Penn. R.R bonds, . 
Northern Central R'way bonds, 
Northern Pacific R'way Co. bonds, . 
North Side Elec. St. R'y Co., Chicago, bonds, 
Ohio River R.R bonds, .... 
Paducah Water Supply Co., Bait , Md., bonds, 
Penna. Co. Trust cert's, .... 

Penna. R.R. bonds, 

People's Pass. R'way Trust cert's, . 

People's Street R'y Co., Luzerne Co., Pa., b'ds 

Philadelphia, Pa., city loan, 

Phila. & Erie R R. bonds, .... 

Phila. & Reading R.R. bonds, . 

Phila., Reading & New Eng. R.R. bonds, 

Pittsburg, Cinn., Chic. & St. Louis R'y bonds 

Pittsburg, Pa , Consol. Gas Co. bonds, 

Pittston, Pa., bonds, .... 

Raleigh, N. C, bonds, 

Ravenna, O., bonds, .... 

Rockbridge, Va., bonds, . 

St. Joseph, Mo , Water Co. bonds, . 

St. Louis, Mo., Merchants' Bridge Co. bonds, 

St. Louis, Iron Mountain & Southern R'y b'ds 

Salem, N. J., bonds, 

Seaboard & Roanoke R.R. bonds, 

Second Ave. Tract. Co., Pittsburg, Pa., bonds, 



Par Value. 

$150,000 00 

29,000 00 

50,000 00 

49,000 00 

50,000 00 

30,000 00 

53,000 00 

57,000 00 

60,000 00 

50,000 00 

25,000 00 

50,000 00 

100,000 00 

50,000 00 

47,500 00 

100,000 00 

100,000 00 

50,000 00 

13,000 00 

36,000 00 

50,000 00 

35,000 00 

50,000 00 

100,000 00 

110,000 00 

5,000 00 

25,000 00 

100,000 00 

74,000 00 

237,000 00 

206,000 00 

135,000 00 

45,000 00 

100,000 00 

38,000 00 

311,000 00 

130,750 00 

200,000 00 

100,000 00 

33,300 00 

50,000 00 

49,000 00 

65,000 00 

100,000 00 

75,000 00 

100,000 00 

35,000 00 

100,000 00 

50,000 00 



Market Value. 

$157,500 00 
30.305 00 
51,000 00 
53,900 00 
54,250 00 
32,625 00 
58,895 00 
63,270 00 
67,100 00 
59,500 00 
26,375 00 
57,000 00 

116,000 00 
54,500 00 
52,337 92 

103,000 00 

117,500 00 
51,750 00 
14,105 00 
36,720 00 
44,750 00 
36,400 00 
53,750 00 
96,500 00 

132,000 00 

5,150 00 

27,375 00 

105,000 00 
74,740 00 

242,925 00 

243,800 00 

145,800 00 
53,750 00 

107,500 00 
47,300 00 

312,500 00 
52,750 00 

221,000 00 

110,000 00 
34,382 25 
54,500 00 
52,430 00 
66,625 00 

100,000 00 
81,750 00 

106,000 00 
37,975 00 

106,500 00 
56,500 00 



168 



THE PHCEN1X MUTUAL LIFE INSURANCE CO. 



Second Ave., N. Y., R.R. bonds, 
Sioux City, la., Stock Yards Co. bonds, . 
Sioux City, la., Term. R R. & Warehouse b'ds 
Sioux City, la., Traction Co. stock and notes, 
Southern Pacific R.R. bonds, . 
Southern Railway Co. bonds, . 
1,500 shares Southern Railway Co., . 
South Side Elevated R.R., Chicago, bonds, 
Steinway R'y Co. of L. I. City, X. Y., bonds, 
Stockton, N. J., bonds, .... 
Terre Haute, Ind., Street Railway bonds, 
Thirteenth & Fifteenth Sts. R'y Co , Phila., b'ds 

Toledo, O., bonds, 

Toledo Belt Railway bonds, 
Toledo & Ohio Central Extension R.R. bonds 
Trenton, N. J., Passenger Railway bonds, 
Trenton, N. J., Comptroller's warrants, . 
Tyrone, Pa., Gas & Water Co. bonds, 
Union League of Philadelphia bonds, 
Union Pacific R.R. bonds, .... 

United States bonds, 

United Traction Co., Pittsburg, Pa., bonds, 
Upper Darby, Pa., Twp. bonds, 
Venice & Carondelet Railway bonds, 
Warren, Warren Co., Pa., bonds, 
Washington, Pa., School District bonds, . 
100 shares Western National Bank, Phila., 
Western Pa. R.R. bonds, .... 
West Chester, Pa., Gas Co. bonds, . 
West Chicago St. R.R. Tunnel Co. bonds, 
Wilkinsburg, Pa., School District bonds, . 
Wilmington, N. C, bonds, 
Winston, N. C, bonds, .... 
Xenia, O., bonds, 



Par Value. 

$100,000 00 
90,000 00 

150,000 00 
95,211 00 

100,000 00 
66,000 00 

150,000 00 

100,000 00 
50,000 00 
50,000 00 
25,000 00 
50,000 00 
35,000 00 
31,000 00 

125,000 00 
88,000 00 
80,000 00 
27,000 00 
3,000 00 
40,000 00 

215,000 00 
48,000 00 

133,000 00 

200,000 00 
80,000 00 
45,500 00 
5,000 00 
22,000 00 
62,500 00 
50,000 00 
50,000 00 
90,000 00 
60,000 00 
5,000 00 



Market Va'.ue. 

$116,500 00 
92,700 00 
120,000 00 
55,967 28 
113,000 00 
69,960 00 
62,625 00 
105,250 00 
59,250 00 
53,500 00 
25,000 00 
61,500 00 
37,800 00 
31,516 67 
37,500 00 
99,440 00 
81,600 00 
29,025 00 
3,053 91 
42,100 00 
257,762 50 
53,040 00 
152,950 00 
200,000 00 
85,593 75 
47,775 00 
6,800 00 
23,540 00 
66,250 00 
53,000 00 
54,500 00 
94,050 00 
66,300 00 
5,050 00 



Book value, 



$11,445,811 00 $11,762,836 94 
. 11,274,85140 



"THE PHOENIX MUTUAL LIFE INSURANCE COMPANY, 1 ' 

HARTFORD, CONN. 

[Incorporated May, 1851. Commenced business May, 1851.] 

Jonathan B. Bunce, President. Charles H. Lawrence, Secretary. 



Income. 

Received for premiums on new policies, . 

Received for renewal premiums, 

Dividends applied to pay running premiums, . 



$364,387 22 

1,208,914 36 

155,126 89 






THE PHCENIX MUTUAL LIFE INSURANCE CO. 



169 



Dividends applied to purchase paid-up additions and annuities, $38,049 68 

Surrender values applied to pay running premiums, . . 9,208 01 
Surrender values applied to purchase paid-up insurance and 

annuities, 139,574 00 

Received for annuities, 11,856 90 



Total 

Deduct amount paid for reinsurance, 

Total premium income, 

Received for interest, 

as discount on claims paid in advance, 
for rents of company's property, 
for reinsurance, . 

Profit on securities sold, . 

Profit and loss account, 



Total income, 
Net or ledger assets Dec. 31, 1897, 



Total, 



,927,117 06 
6,931 55 



.,920,185 51 

572,039 58 

589 54 

40,058 96 

2,362 74 

19,910 29 

1,998 47 



f2,557,145 09 
10,682,913 71 

813,240,058 80 



Disbursements. 

Paid for losses and additions, 

for matured endowments and additions, . 

on matured instalment policies, .... 

Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Xet amount paid for losses and endowments, . 

Paid to annuitants, 

Premium notes or loans voided by lapse, 
Cash dividends paid policy holders, .... 

applied to pay running premiums, . 
applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, 

applied to pay running premiums, 
applied to purchase paid-up insurance and 
annuities, 

Total paid policy holders, 

Cash paid for commissions and bonuses to agents (new poli 
cies, $212,908.98; renewals, $80,457.25), . 
for salaries and allowances to managers and agents 
for medical examiner's fees and inspections, . 
for salaries of officers and home office employees, 
for taxes on new premiums, $3,352.74 ; on renew- 
als, $11,327.14, 

for taxes on franchise, $25,603.75 ; on reserves, 
$1,010.87; internal revenue, $4,512.21, . 



$723,043 97 

73,309 50 

1,000 00 



$797,353 47 
4,677 00 



$792,676 47 

2,879 97 

33 30 

3,098 41 

155,126 89 

38,049 68 

181,798 57 

9,208 01 

139,574 00 



$1,322,445 30 

293,366 23 
61,458 84 
42,317 11 
68,445 65 

14,679 88 

31,126 83 



170 



THE PHOENIX MUTUAL LIFE INSURANCE CO. 



Cash paid for taxes on real estate, . 
for fees, licenses, etc., 

for rent, 

for commuting commissions, . 

for advertising, printing and postage, 

for legal expenses, .... 

for furniture and office fixtures, 

for real estate expenses (except taxes) , 

for loss on sales of property, . 

for incidentals, .... 

Profit and loss account, 



Total disbursements, 
Balance, 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgages of real estate (first liens), 

on collateral security (schedule A) , . 

on company's policies assigned as collateral, 
Premium notes or loans on policies in force, . 
Book value of stocks and bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 



Total net or ledger assets, as per balance, 



$20,415 66 

6,911 41 

12 

5,223 42 

41,402 36 

2,665 27 

1,518 48 

16,077 79 

194 59 

17,524 04 

12,863 66 






$1,982,486 64 
$11,257,572 16 



$1,102,365 90 

5,447,686 41 

6,600 00 

399,967 00 

368,212 74 

3,419,663 45 

478 58 

512,598 08 

$11,257,572 16 






Other Assets. 
Interest due, $40,423.88 ; accrued, $95,490.44, 
Market value of stocks and bonds over book, . 



Uncollected premiums on poll 

cies in force, . 
Deferred premiums on policies 

in force, .... 

Total,. 
Deduct loading (20 per cent.), 

Net amount of uncollected and 
deferred premiums, 



New Business 

$52,619 64 
30,273 77 



Total assets, per company's books, . 
Deduct special deposits in other States, . 

Balance, * 



Renewals. 

$57,616 33 
105,789 68 



$82,893 41 $163,406 01 
16,578 68 32,681 20 



$66,314 73 $130,724 81 



135,914 32 
77,895 07 



197,039 54 

$11,668,421 09 
147,997 00 

$11,520,424 09 



THE PHCENIX MUTUAL LIFE INSURANCE CO. 



171 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $10,786,276 00 
Deduct net value of reinsured risks, 21,018 00 



Net reserve, .... 
Present value of unpaid instalments, 
Death losses in process of adjustment, 
Premiums paid in advance, 
Special policy reserve, 
Special liability, .... 

Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 



Surplus as regards policy holders, . 
Gross liabilities, 



$10,765,258 00 

6,874 00 

31,817 00 

8,131 00 

167,045 00 

10,000 00 

$10,989,125 00 
147,997 00 

$10,841,128 00 
. 679,296 09 

$11,520,424 09 



Premium Note Account. 



Premium notes on hand Dec. 31, 1897, . 
Premium notes rec'd during 1898 (new policies) , 

Total, 

Used in payment of losses and claims, . 
Used in purchase of surrendered policies, 

Voided by lapse, 

Used in payment of dividends to policy holders, 
Redeemed by maker in cash, .... 

Total, 

Balance note assets Dec. 31, 1898, 



$402,040 38 

1,927 00 

$17,541 36 

7,114 80 

33 30 

272 18 

10,793 00 



$403,967 38 



35,754 64 



$368,212 74 



Exhibit of Policies. 



Policies and Additions in Force Dec. 31 '1897. 




Number. Amount. Total No. Total Amount 


Whole life, 


. 17,238 $29,720,857 00 


Endowment, 


. 9,910 14,240,251 00 


All other, . 


. 1,121 1,749,600 00 


Reversionary additions, 


310,361 00 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 
. 4,700 $8,332,007 00 
. 2,144 3,492,274 00 
913 1,244,434 00 



7,757 13,068,715 00 



172 



THE PHCENIX MUTUAL LIFE INSURANCE CO. 



Whole life, 
Endowment, 
All other, . 



Old Policies revived and increased. 



Number. 


Amount. Total No. 


Total Amount. 


17 


?67,000 00 




8 


18,000 00 




2 


2,385 00 






27 


187,385 00 






Whole life, 
Endowment, 



Old Policies transferred. 

37 $90,000 00 

13 15,500 00 



50 



105,500 00 



Total 36,103 £59,282,669 00 



Policies terminated during the Year. 
Whole life, . . . 2,729 $5,285,809 00 
Endowment, . . . 1,446 2,255,836 00 
All other, .... 336 570,242 00 





4,511 


$8,111,887 00 




How terminated. 


By death, . 


466 


$728,922 00 


maturity, 


66 


73,310 00 


expiry, . 


37 


86,000 00 


surrender, . 


485 


1,067,047 00 


lapse, . 


1,793 


2,997,482 00 


change and decrease, 


203 


525,464 00 


Not taken, . 


1,461 


2,633,662 00 



4,511 8,111,887 00 



Policies in Force Dec. 31, 1898. 
Whole life, . . . 19,263 $32,924,055 00 
Endowment, . . . 10,629 15,510,189 00 
All other, .... 1,700 2,386,400 00 
Reversionary additions, . - 350,138 00 



31,592 51,170,782 00 



Schedule A. 
Securities held as Collateral. 

Market Value. Loaned Thereon 

20 shares National Fire Ins. Co., Hartford, Ct., $4,200 00 

28 " Merrick Thread Co., Holyoke, . . 7,000 00 

N. Y., N. H. & Hart. R.R. debenture bond, . 1,700 00 1,000 00 



$5,600 00 






$12,900 00 $6,600 00 



THE PHCENIX MUTUAL LIFE INSURANCE CO. 



175 



Schedule B. 
Stocks and Bonds owned by the 

200 shares Charter Oak Nat'l Bank, Hart., Ct., 

200 ' 

35 « 

644 « 

78 ' 

336 ' 

362 ' 

50 ' 

116 ' 

100 ' 

284 ' 

63 ' 

700 ' 

109 ' 



First National Bank, Hart., Conn., . 
iEtna National Bank, Hart, Conn., 
American Nat'l Bank, Hart., Conn., 
Farmers' & Mech. N'l B'k, Hart., 
Phoenix Nat'l Bank, Hart., Conn., 
Nat'l Exchange Bank, Hart., Conn. 
United States Bank, Hart., Conn., 
City Bank of Hartford, Conn., 
Security Co., Hartford, Conn., 
Hartford City Gas Light Co., . 
N. Y., N. H. & Hartford R.R., 
Fort Wayne & Jackson R.R., . 
Hartford Nat'l Bank, 

Erie R.R. bonds, 

Chicago, Milwaukee & St. Paul R.R. bonds, 
Vermont Valley R.R. bonds, . 
Hartford & Conn. Western R.R. bonds, . 
St. Louis & San Francisco R.R. bonds, . 
Flint & Pere Marquette R.R. bonds, 
Louisville, New Albany & Chic. R'y bonds, 
Baltimore Belt R.R. bonds, 
Tarkio Valley R.R. bonds, 
Indiana & Lake Michigan R'y bonds, 
Hannibal & St. Joseph R.R. bonds, . 
Clev., Col., Cinn. & Indianap. R.R. bonds, 
Evansville & Indianap. R.R. bonds, 
• Rochester & Pittsburg R.R. bonds, . 
Cinn., Dayton & Ironton R'y bonds, 
St. Paul & Northern Pacific R'y bonds, . 
Lehigh Valley Terminal R'y bonds, 
Ohio & West Virginia R'y bonds, . 
Chicago & Western Indiana R.R. bonds, . 
Indianapolis & St. Louis R.R. bonds, 
Philadelphia & Reading R.R. bonds, 
Cinn., Ind., St. Louis & Chic. R'y bonds, . 
Chicago & Northwestern R'y bonds, 
Elizabetht'n, Lex. & Big Sandy R.R. bonds, 

Wabash R.R. bonds, 

Chicago & Erie R.R. bonds, 

Cleve., Cinn., Chic. & St. Louis R'y bonds, 

Nashville, Chatt. & St. Louis R'y bonds, . 

Easton & Amboy R.R. bonds, . 

Cedar Rap's, Iowa Falls & Northw. R'y bonds, 



Company. 

Book Value. 

$19,662 00 

22,255 00 

3,500 00 

37,173 00 

8,672 00 

42,488 00 

22,806 00 

5,000 00 

12,156 00 

10,000 00 

7,350 00 

10,359 00 

78,650 00 

15,612 00 

120,833 75 
50,375 00 

103,750 00 
50,000 00 
44,460 00 
50,000 00 
27,420 00 
25,375 00 
15,417 50 
10,000 00 
28,250 00 
5,775 00 
27,500 00 
28,681 25 
9,550 00 
17,362 50 
67,925 00 
47,200 00 

114,452 50 
8,435 00 
51,250 00 
19,305 00 
57,320 00 
9,925 00 
50,687 50 
52,580 00 
44,400 00 
28,125 00 
52,825 00 
52,883 80 



Market Value. 

$18,000 00 
22,000 00 
4,900 00 
45,080 00 
8,580 00 
42,000 00 
22,806 00 
16,250 00 
12,180 00 
12,500 00 
11,360 00 
12,285 00 
87,500 00 
14,715 00 

142,000 00 
59,000 00 

105,000 00 
50,000 00 
44,000 00 
47,500 00 
27,500 00 
25,000 00 
14,980 00 
5,000 00 
29,500 00 
6,250 00 
25,000 00 
30,000 00 
11,000 00 
18,750 00 
71,500 00 
44,000 00 

118,000 00 
9,100 00 
57,500 00 
19,080 00 
56,750 00 
10,000 00 
55,000 00 
55,000 00 
47,000 00 
28,000 00 
54,000 00 
53,000 00 



174 



THE FIKENIX MUTUAL LIFE INSURANCE CO. 



Port Reading R.R. bonds,. 
Lehigh Valley R'y bonds, 
Central R.R. of New Jersey bonds, 
St. Louis Southern R.R. bonds, 
Louisville & Nashville R.R. bonds, 
Cleve., Cinn., Chic. & St. Louis R.R. bonds, 
Wilmar & Sioux Falls R.R. bonds, 
West Chicago St. R'y Tunnel Co. bonds, 
Chicago North Shore St. R'y bonds, 
N. Y., N. H. & Hartford R.R. bonds, 
Raleigh & Gaston R.R. bonds, . 

Rutland R.R. bonds, 

St. Louis & San Francisco R'y bonds, 

Lake Erie & Western R.R. bonds, . 

Seaboard & Roanoke R.R. bonds, . 

Virginia Midland R R. bonds, . 

Elgin, Joliet & Eastern R'y bonds, . 

Minneapolis & St. Louis R.R. bonds, 

Southern Pacific R R. bonds, . 

Iowa Central Railway bonds, . 

Louisville & Jeffersonville Bridge Co. bonds, 

Brockton Street R'y bonds, 

Waterburv Traction Co. bonds, 

Hartford Street R'y bonds, 

Brooklyn Wharf & Warehouse bonds, 

Western Union Telegraph Co. bonds, 

Niagara Falls Park bonds, 

County of Middlesex, Ont., debentures, . 

Virginia State bonds, .... 

Columbus Gas Co., Ohio, bonds, 

People's Gas Light & Coke Co., Chic, bonds 

Akron Gas Co., Ohio, bonds, . 

Western Gas Co. bonds, .... 

Consumers' Gas Co., Chic, bonds, . 

County of Spokane Court House and Jail b'ds 

Joliet Gas Light Co , 111., bonds, 

County of Pierce, Wash., bonds, 

City of Blair, Neb., Court House bonds, 

St. Paul Gas Light Co. bonds, . 

City of Lincoln, Neb., bonds, . 

City of Topeka, Kan., bonds, . 

City of Urbana, Ohio, bonds, . 

Kansas City, Kan., bonds, . 

City of Coldwater, Mich., bonds, 

City of Fostoria, Ohio, bonds, . 

City of Seattle, Wash., bonds, . 

City of Portland, Ore., bonds, . 

City of Cheyenne, Wyo., bonds, 



Book Value. 

$51,250 00 
50,570 00 

111,252 50 
15,640 00 
26,025 00 
22,937 50 
26,375 00 
25,250 00 
53,000 00 
2,500 00 
26,500 00 
26,687 50 
49,125 00 
30,975 00 
25,750 00 
18,045 00 
51,662 50 
31,875 00 
50,750 00 
25,875 00 
26,100 00 
41,000 00 
10,000 00 
25,437 50 

101,125 00 
22,200 00 

103,747 60 
31,800 00 
10,500 00 
25,562 50 
26,187 50 
24,375 00 
25,750 00 
26,062 50 
20,900 00 
20,000 00 
52,000 00 
5,075 00 
10,600 00 
44,705 00 
16,020 65 
25,000 00 
5,609 64 
35,525 00 
10,000 00 
25,000 00 
59,325 00 
30,000 00 



Market Valae. 

$52,500 00 
51,500 00 

112,000 00 
16,150 00 
26,750 00 
24,250 00 
27,500 00 
25,500 00 
53,000 00 
4,250 00 
25,750 00 
27,000 00 
50,000 00 
30,900 00 
26,500 00 
18,000 00 
52,000 00 
32,100 00 
51,000 00 
26,000 00 
27,000 00 
41,000 00 
10,000 00 
25,250 00 
92,000 00 
20,600 00 

103,747 60 
31,800 00 
12,750 00 
25,500 00 
26,000 00 
25,000 00 
25,750 00 
26,000 00 
21,000 00 
20,000 00 
52,000 00 
5,000 00 
10,600 00 
45,000 00 
15,714 92 
25,000 00 
5,500 00 
35,000 00 
10,000 00 
25,000 00 

57,630 00 
30,000 00 






PROVIDENT LIFE AND TRUST CO. OF PHILADELPHIA. 175 



Ogden City, Utah, bonds, . 
City of Roanoke, Va., bonds, . 
City of Greensboro, N. C, bonds, . 
City of Beatrice, Neb., bonds, . 
Sioux City, Iowa, School District bonds, 
Superior, Neb , School District bonds, 
Syracuse, Neb., School District bonds, 
Stanbury, Mo., School District bonds, 
Trenton, Mo., School District bonds, 
Eaton, Mo., School District bonds, . 
Sheriden, Mo., School District bonds, 
Mankato, Minn., School District bonds, 
Humboldt, Neb., School District bonds, 
Nelson, Neb., School District bonds, 
Lewis & Clarke Co., Mont, School Dist. bonds 
Polk County, Ore., School District bonds, 
County of Laramie, Wyo., School Dist. bonds 
Colfax, Wash., School District bonds, 
Portland, Ore., School District bonds, 
Denver, Col., School District bonds, 
Maysville, Mo., School District bonds, 



Book Value. 

$7,720 00 

10,500 00 

4,590 00 

4,040 00 

34,825 00 

12,600 00 

10,350 00 

2,010 00 

7,425 00 

502 50 

1,648 00 

15,247 50 

9,135 00 

15,000 00 

35,787 50 

12,840 00 

21,000 00 

30,150 00 

25,250 00 

2,500 00 

6,543 26 



Market Value. 

$8,000 00 

10,000 00 

4,500 00 

4,000 00 

35,000 00 

12,000 00 

10,000 00 

2,000 00 

7,500 00 

500 00 

1,600 00 

15,000 00 

9,000 00 

15,000 00 

35,500 00 

12,000 00 

21,000 00 

30,000 00 

25,000 00 

2,500 00 

6,400 00 



1,419,663 45 83,497,558 52 



" PROVIDENT LIFE AND TRUST COMPANY OF PHILADELPHIA," 

PHILADELPHIA, PA. 

[Incorporated March 22, 1865. Commenced business June, 1865.] 

Paid-up Capital, $1,000,000. 

T. Wistar Brown, 



Samuel R. Shipley, President. 



Asa S. Wing, 



Vice-Presidents. 



Income. 

Received for premiums on new policies, .... $464,929 66 

Received for renewal premiums, 3,529,578 06 

Dividends applied to pay running premiums, . . . . 567,780 12 

Dividends applied to purchase paid-up additions and annuities, 107,222 14 
Surrender values applied to purchase paid-up insurance and 

annuities, 71,142 00 

Received for annuities, 83,627 58 

Total premium income, $4,824,279 56 

Received for interest, 1,514,577 87 

as discount on claims paid in advance, . . . 46,391 89 

for rents of company's property, .... 33,309 93 



176 PROVIDENT LIFE AND TRUST CO. OF PHILADELPHIA. 



Profit on securities sold, . 
Received on investments of capital,* 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



Total, 



1130,070 72 
48,370 00 



. $6,596,999 97 
. 32,875,344 51 

$39,472,344 48 



Disbursements. 

Paid for losses and additions, 

for matured endowments and additions, . 

on matured instalment policies, .... 

Gross amount paid for losses and endowments, 

Paid to annuitants, 

Cash dividends paid policy holders, .... 
applied to pay running premiums, 
applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, 

Surrender values applied to purchase paid-up insurance and 
annuities, 



Total paid policy holders, 

Cash paid for dividends to stockholders,* 

for commissions and bonuses to agents (new poli 

cies, $189,924.89 ; renewals, $205,330.88), . 
for salaries and allowances to managers and agents 
for medical examiner's fees, .... 
for salaries of officers and home office employees, 
for taxes on new premiums, .... 
for taxes on reserves, $6,072.09 ; internal revenue 

$10,263.22, . . . . 

for taxes on real estate, 

for fees, licenses, etc., 

for rent, 

for advertising, printing and postage, . 

for legal expenses, 

for furniture and office fixtures, 

for real estate expenses (except taxes), 

for incidentals, 

Total disbursements, 

Balance, 



$1,179,666 49 

884,320 00 

27,681 11 



$2,091,667 60 

52,014 18 

69,172 62 

567,780 12 

107,222 14 
376,254 18 

71,142 00 



$3,335,252 84 
48,370 00 

395,255 77 
43,071 97 
18,757 00 

181,794 05 
55,323 43 

16,335 31 
12,879 94 

6,385 30 
17,743 43 
36,202 87 

3,079 45 
12,349 54 
58,327 96 
14,678 67 



$4,255,807 53 
$35,216,536 95 



* The charter, besides authority to transact a life insurance business, confers also authority 
to act as administrator, executor, etc., to transact what is known as a trust business. The rela- 
tions of the two departments of the business are fixed by the provisions of the charter. The 
accounts are kept entirely distinct and separate. The entire surplus in the insurance depart- 
ment accumulates for the benefit of the policy holders. The only advantage, direct or indirect, 
which the stockholders can at any time have from the union of the two features of the business, 
results from the fact that the management of the trust business, from which they derive their 
profits, is done for them without charge. This includes the interest on the capital. 






TROVIDEXT LIFE AND TRUST CO. OF PHILADELPHIA. 177 



Invested in the following: — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 

Premium notes or loans on policies in force, . 

Book value of stocks and bonds owned (schedule B), 

Cash in company's office and in banks, . 

Total net or ledger assets, as per balance, . 



$2,648,667 08 

11,458,654 45 

1,794,864 03 

3,106,389 96 

13,643 00 

16,072,138 31 

122,180 12 

^35,216,536 95 



Other Assets. 

Interest due, $161,568.96; accrued, $ 213,051. 35, . . . 374,620 31 

Rents due, $6,487.76; accrued, $775, . . . . . 7,262 76 

Market value of stocks and bonds over book, .... 1,069,187 69 



Uncollected premiums on poli- 
cies in force, .' 

Deferred premiums on policies 
in force, .... 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

$57,594 12 $211,839 30 
60,580 30 568,022 45 



$118,174 42 $779,861 75 
23,634 88 155,972 35 



$94,539 54 $623,889 40 



Total assets, per company's books, . 



- 718,428 94 
$37,386,036 65 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries 1 4 per cent.), . 
Present value of unpaid instalments, 
Death losses due and unpaid, .... 
Matured endowments due and unpaid, . 
Death losses in process of adjustment, . 
Claims resisted by the company, . , , 
Due and unpaid on annuity claims, . 

Total policy claims, 

Unpaid dividends of surplus due policy holders, 
Premiums paid in advance, .... 
Due for taxes, fees, salaries, expenses, etc., , 
Contingent surrender value, .... 



$31,437,905 00 
85,937 00 



$26,294 94 
9,662 00 

133,292 51 

10,435 30 

1,945 63 



181,630 38 

54,510 02 

202,119 89 

196 92 

171,748 00 



Liabilities as to policy holders, . 



$32,134,047 21 



178 PROVIDENT LIFE AND TRUST CO. OF PHILADELPHIA . 

Surplus as regards policy holders, . . . $5,251,989 44 

Paid-up capital, ? 1,000,000 00 

Surplus over capital, 4,251,989 44 

Gross liabilities, $37,386,030 65 

Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . f 14,899 69 

Premium notes rec 1 d during 1898 (old policies), 1,517 20 

Total, $16,416 89 

Used in payment of dividends to policy holders, ^1 ,841 15 

Redeemed by maker in cash, .... 932 74 

Total, 2,773 89 

Balance note assets Dec. 31, 1898, $13,643 00 

Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount 

Whole life, . . . 3,579 $12,595,196 00 
Endowment, . . .31,199 88,964,004 00 • 
All other, .... 3,848 15,979,5G9 00 
Reversionary additions, . - 1,115,959 00 

38,626 $118,654,728 00 

Policies isstied during the Year. 

Whole life, ... 465 $1,283,755 00 
Endowment, . . . 3,298 8,248,045 00 

All other, .... 722 2,577,694 00 

4,485 12,109,494 00 

Old Policies revived. 

Whole life, ... 18 $52,850 00 

Endowment, ... 94 269,335 00 

All other, .... 12 58,239 00 

124 380,424 00 

Old Policies changed and increased. 

Whole life, ... 17 $80,011 00 

Endowment, ... 77 310,587 00 

All other, .... 7 24,067 00 

101 414,665 00 

Additions by dividends, - 163,087 00 

Total, 43,336 $131,722,398 00 

Policies terminated during the Year. 

Whole life, ... 245 $836,208 00 

Endowment, . . . 2,027 5,605,235 00 
All other, . . . ' . 541 2,545,405 00 

2,813 $8,986,848 00 



PROVIDENT LIFE AND TRUST CO. OF PHILADELPHIA. 179 



By death, . 

maturity, 

expiry, 

surrender, 

lapse, . 

change and decrease, 
Not taken, . 



How terminated. 

Number. Amount. 

360 $1,320,176 00 

278 893,982 00 

2 50,000 00 

690 2,132,055 00 

1,278 3,555,795 00 

101 676,327 00 

104 358,513 00 



Total No. 



Total Amount. 



2,813 $8,986,848 00 



Policies in Force Dec. 31, 1898. 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



3,834 $13,175,604 00 

32,641 92,186,736 00 

4,048 16,182,903 00 

1,190,307 00 



40,523 122,735,550 00 



Schedule A. 
Securities held as Collateral. 



lib shares West Chicago Street R.R., 

90 " North Chicago Street R.R., . 
West Chicago Street R R. certificate, 
2,400 shares Lehigh Valley R.R., . 

900 " Marsden Company, 
Electric & People's Traction Trust certs., 
North Chicago Street R.R. certificate, 
West Chicago Street R.R. certificate, 

400 shares Lehigh Coal & Navigation Co , 
50 " Baltimore Trust & Guar. Co., 
2,200 " Philadelphia Traction Co., . 

287 " United Gas Improvement Co., 

100 " Philadelphia Traction Co., . 

100 " Cambria Iron Co., 

100 " Choctaw, Oklahoma & Gulf R.R 
Philadelphia Electric Trust certificate, . 
Atch., Topeka & Santa Fe R.R. bonds, 
200 shares Reading Co., .... 
450 " Union Traction Co., 
150 " North Chicago Street R.R , . 

74 " American Bell Telephone Co., 
100 " United Gas Improvement Co., 
200 " Union Passenger R'y Co., 
615 " Pennsylvania Salt Manuf. Co., 
International Navigation Co. bonds, 
2,000 shares Union Traction Co., 

400 " Metropolitan St. R 1 y Co., . 
Delaware Division Canal Co. bonds, 



Market Value. 

$70,525 00 

19,800 00 

1,980 00 

52,800 00 

8,100 00 

14,400 00 

29,700 00 

29,700 00 

15,200 00 

16,000 00 

206,800 00 

35,875 00 

9,400 00 

4,100 00 

4,300 00 

40,400 00 

15,600 00 

4,600 00 

13,500 00 

33,000 00 

20,350 00 

12,500 00 

45,000 00 

61,500 00 

90,250 00 

60,000 00 

75,200 00 

718,200 00 



Loaned Thereon. 

> $70,000 00 

I 49,255 55 

9,000 00 

I 50,000 00 

I 22,000 00 
150,000 00 



} 108,000 00 



24,388 89 

) 

[ 47,500 00 

J 

75,000 00 
I 100,000 00 

462,000 00 



180 PROVIDENT LIFE AND TRUST CO. OF PHILADELPHIA. 



1,500 shares Consol. Traction Co. of Pitts., 

Ashtabula & Pittsburgh R'y bonds, . 

Consol. Traction Co. of N J. bonds, 

500 shares Electric Storage Battery Co., 

500 " Northern Pacific R'y, 

Bonds & mortgages, Bridgeton, N. J., 

1,960 shares Choctaw, Oklahoma & Gulf R.R 

300 " Electric Storage Battery Co 
78 " Welsbach Light Co , . 
American Type Founders' Co. bonds, 
Phila., Reading & New Eng. R.R. bonds, 
Equitable Ilium. Gas Light Co. bonds, 
N. Y. & Queen's County R'y bonds, 
Citizens' St. R.R. Co. of Ind. bonds, 
Philadelphia Electric Trust certs., . 
Atlantic Coast Electric R.R. bonds, . 
200 shares Penn. Manuf. L. & P. Co., 
200 " United Traction Co. of Pitts., 
100 " Tradesmen's National Bank, 
100 " Finance Co. of Penn., 
396 " West Jersey & Seashore R.R. 
100 " Pennsylvania R.R., . 

22 " Millville Gas Light Co., . 
May's Landing Water Power Co. bonds, 
3,900 shares West Chicago St. R.R., 
North Chicago St. R.R. certificate, . 



Market Value. 

$87,000 00 

1,140 00 

20,520 00 

27,500 00 

37,500 00 

9,000 00 

68,280 00 

18,900 00 

2,886 00 

7,600 00 

31,280 00^ 

5,450 00 

11,250 00 

4,300 00 

15,150 00 

5,950 00 

4,600 00 

4,000 00 

6,000 00 

11,000 00 J 

21,780 00>| 

6,000 00 ( 



Loaned Thereon. 

$49,316 67 
950 00 

50,000 00 

3,970 00 
50,000 00 

25,000 00 



1,100 oo : 

9,000 00 J 
354,900 00 
59,400 00 



75,000 00 



25,000 00 
348,482 92 



$2,540,266 00 $1,794,864 03 



Schedule B. 
Stocks and Bonds owned by the 

1,000 shares Grand Rapids & Indiana R'y Co., 

2,000 • 

800 ' 

1,500 ■ 

500 4 

3,125 • 

3,000 • 

5,200 « 

4,500 * 

1,500 ' 

1,500 ' 



1 Metropolitan St. R'y Co., 
1 New England Gas & Coke Co., 
' N. Y. Cent & Hudson River R.R. 
' Norfolk & Western R'y Co., 
* Northern Pacific R'y Co., 
4 Philadelphia Traction Co., . 
4 Reading Co. Trust certificates, 
4 The United Gas Improvem't Co., 
4 Union Traction Co., 
4 Union Pacific R.R., 
Pennsylvania & N. Y. Canal & R.R. Co. bonds 
Asa Packer estate notes, .... 
Atlantic City R.R. bonds, .... 
Lehigh Valley R.R. bonds, 
Richmond & Danville R.R. bonds, . 



Company. 

Book Value. 

$5,000 00 
270,756 25 

20,000 00 
173,250 00 

30,000 00 
198,125 00 
223,500 00 

74,000 00 
474,140 81 

40,812 50 
105,518 75 
135,000 00 

89,150 00 
108,000 00 

60,000 00 
122,220 00 



Market Value. 

$10,000 00 
376,000 00 

24,000 00 
183,000 00 

30,500 00 
237,500 00 
282,000 00 

73,600 00 
567,000 00 

46,500 00 
108,000 00 
135,000 00 

89,150 00 
108,000 00 

60,000 00 
122,220 00 



PROVIDENT LIFE AND TRUST CO. OF PHILADELPHIA. 181 



Philadelphia & Erie R.R. bonds, 

Western N. Y. and Penn. R.R. bonds, 

Central of Georgia R'y Co. bonds, . 

Chicago & Erie R.R. bonds, 

Gloucester Ferry Co. bonds, 

Allentown Gas Co. bonds, 

Atch., Topeka & Santa Fe R R. bonds, 

Atlantic City R.R. bonds, . 

Baltimore city loan, .... 

Belt R.R. & Stock Yard bonds, . 

Boston city bonds, .... 

Central of Georgia R'y Co. bonds, . 

Chicago city bonds, .... 

Chicago & Erie R.R. bonds, ' . 

Chic, Milwaukee & St. Paul R'y bonds, 

Chic. & Northwestern R'y bonds, 

Chic, St. Louis & New Orleans R.R. bonds, 

Chicago, Rock Island & Pacific R.R. bonds, 

Cincinnati city bonds, 

Cook County, 111., bonds, . 

Detroit City Gas Co bonds, 

Delaware River Ferry Co of N. J. bonds 

Easton & Amboy R.R. bonds, . 

Erie R.R. bonds, .... 

Gloucester Ferry Co. bonds, 

Hennepin County, Minn., bonds, 

Jersey City bonds, .... 

Kansas City, Mo , Gas Co. bonds, 

Kansas City, Pitts. & Gulf R.R. bonds, 

Lehigh Coal & Navigation Co. bonds, 

Lehigh Valley R.R. bonds, 

Louisville city bonds, 

Lynchburg, Va., bonds, . 

Lynchburg, Va., city bonds, 

Milwaukee city bonds, 

Missouri Pacific R.R. bonds, . 

New England Gas & Coke Co. bonds, 

New York city loan, .... 

New York Central & Hudson River R.R. bonds 

New York, Lake Erie & Western R.R. bonds, 

Northern Central Railway bonds, . 

Northern Pacific Railway bonds, 

North Pennsylvania R.R. bonds, 

Passaic & Newark Electric Traction Co. bonds 

People's Gas Light & Coke Co., Chic, bonds, 

Pennsylvania & N. Y. Canal and R.R. bonds, 

Pennsylvania R.R. bonds, .... 

Philadelphia & Baltimore Central R.R. bonds 



Book Value. 

$55,930 00 

68,200 00 

184,000 00 

55,500 00 

122,000 00 

49,500 00 

569,000 00 

65,000 00 

302,075 00 

30,000 00 

261,000 00 

212,740 00 

200,000 00 

358,000 00 

373,000 00 

303,000 00 

149,250 00 

500,000 00 

518,000 00 

200,000 00 

92,500 00 

17,100 00 

20,000 00 

472,500 00 

125,000 00 

207,700 00 

102,500 00 

66,500 00 

40,500 00 

372,000 00 

714,500 00 

250,000 00 

14,000 00 

36,000 00 

150,000 00 

89,000 00 

180,000 00 

106,000 00 

479,875 00 

250,000 00 

143,000 00 

318,387 50 

271,000 00 

193,000 00 

157,000 00 

308,700 00 

389,000 00 

110,000 00 



Market Value. 

$55,930 00 

68,200 00 

184,000 00 

55,500 00 

122,000 00 

55,000 00 

643,500 00 

70,200 00 

304,686 00 

33,900 00 

262,000 00 

217,120 00 

220,000 00 

388,500 00 

387,250 00 

303,000 00 

148,500 00 

530,000 00 

541,000 00 

206,000 00 

97,000 00 

19,380 00 

21,600 00 

470,000 00 

125,000 00 

221,000 00 

114,000 00 

65,800 00 

34,000 00 

376,400 00 

807,500 00 

267,500 00 

14,000 00 

36,720 00 

148,320 00 

97,010 00 

204,000 00 

106,000 00 

498,500 00 

264,260 00 

154,440 00 

412,005 00 

295,390 00 

193,640 00 

154,440 00 

280,920 00 

449,910 00 

112,200 00 



182 PROVIDENT SAVINGS LITE ASSURANCE SOCIETY OF N. Y. 



Philadelphia & Erie R R. bonds, . . 
Philadelphia & Reading R.R. bonds, 
Phila., Wilmington & Bait. R.R. certificate, 
Philadelphia city loan, .... 
Pitts., Cinn., Chic. & St. Louis R'y bonds, 
Port of Portland, Ore., bonds, . 
Quincy, 111., city bonds, .... 
Reading Co. & P. & R. Coal & Iron Co. bonds 
Richmond, Va., city loan, .... 
Salt Lake City School District bonds, 
St. Louis, Mo., city bonds, 
Second Avenue R.R. Co., New York, bonds, 
Texas & Pacific Railway bonds, 

Trenton city loans, 

Union Pacific R.R. bonds, . . 

United States bonds, .... 

Verdigris Val., Indep. & Western R.R. bonds 
Virginia State bonds, .... 

Wabash R.R. bonds, 

West Chicago Street R.R. bonds, 
West Philadelphia Passenger R'y Co. bonds, 
Western Pennsylvania R.R. bonds, . 
Wilkesbarre & Scranton Railway bonds, 



Book Value. 

$260,000 00 

670,060 00 

3,000 00 

228,000 00 

46,687 50 

50,700 00 

100,000 00 

284,000 00 

125,000 00 

75,000 00 

88,000 00 

230,350 00 

18,760 00 

71,000 00 

282,000 00 

539,000 00 

49,000 00 

59,150 00 

44,800 00 

163,200 00 

50,000 00 

150,000 00 

103,000 00 



Market Value. 

$278,200 00 

687,540 00 

3,240 00 

229,855 00 

47,700 00 

56,350 00 

104,000 00 

301,000 00 

138,750 00 

81,000 00 

95,920 00 

230,350 00 

26,560 00 

71,710 00 

309,000 00 

540,000 00 

31,500 00 

82,000 00 

60,160 00 

159,800 00 

57,500 00 

154,500 00 

105,000 00 



£16,072,138 31$17,141,326 00 



"PROVIDENT SAVINGS LIFE ASSURANCE SOCIETY OF NEW 

YORK," NEW YORK, N. Y. 

[Incorporated Feb. 25, 1875. Commenced business Aug. 10, 1875.] 
Paid-up Capital, $100,000. 

Edward W. Scott, President. William E. Stevens, Secretary. 

Income. 

Received for premiums on new policies, $663,163 01 

Received for renewal premiums, 1,776,607 48 

Dividends applied to pay running premiums, .... 171,458 00 
Surrender values applied to purchase paid-up insurance and 

annuities, 8,577 77 



Total, 

Deduct amount paid for reinsurance, 



. $2,619,806 26 
7,728 52 



Total premium income, $2,612,077 74 

Received for interest, 75,971 81 

for rents of company's property, .... 23,559 77 
for reinsurance, " . . . 168 85 



PROVIDENT SAVINGS LIFE ASSURANCE SOCIETY OF N. Y. 183 



Premium notes or loans restored, 
Profit on securities sold, . 
Profit and loss account, 



Total income, 
Net or ledger assets Dec. 31, 1897, 

Total, . . . . * . 



• t 



• !• 



$1,128 90 

1,296 92 

25,000 00 

$2,739,203 99 
1,989,530 53 

$4,728,734 52 



Disbursements. 

Paid for losses, 

Paid on matured instalment policies, 



Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Net amount paid for losses and endowments, . 

Paid to annuitants, 

Premium notes or loans voided by lapse, 

Cash dividends paid policy holders, .... 

Cash dividends applied to pay running premiums, . • 

Surrender values paid in cash, 

Surrender values applied to purchase paid-up insurance 
annuities, 



and 



Total paid policy holders, . . 

Cash paid for dividends to stockholders, . 

for commissions and bonuses to agents (new poli- 
cies, ^413,106.39 ; renewals, $104,489.68), 
for salaries and allowances to managers and agents 
for medical examiners fees and inspections, . 
for salaries of officers and home office employees 
for taxes on new premiums, $7,668.40; on renew- 
als, $20,565.21, . 
for taxes on reserves, $400.56; internal revenue 

$9,659.78, . 
for taxes on real estate, . 
for fees, licenses, etc., 
for rent, .... 
for commuting commissions, 
for advertising, printing and postage, 
for legal expenses, .... 
for furniture and office fixtures, 
for real estate expenses (except taxes), 
for incidentals, .... 

Profit and loss account, 



Total disbursements, . 
Balance, 



$1,200,099 70 
1,000 00 

$1,201,099 70 
25,000 00 

$1,176,099 70 

1,581 40 

47,228 08 

18,112 87 

171,458 00 

10,252 30 

8,577 77 

$1,433,310 12 
10,466 40 

517,596 07 
35,215 77 
55,530 63 

142,874 95 

28,233 61 

10,060 34 

3,306 71 

9,068 58 

34,365 52 

2,700 00 

49,613 76 

24,461 88 

10,392 07 

8,504 67 

31,942 03 

89,282 48 

$2,496,925 59 



$2,231,808 93 



184 PROVIDENT SAVINGS LIFE ASSURANCE SOCIETY OF N. Y. 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 

Premium notes or loans on policies in force, . 

Book value of stocks and bonds owned (schedule B), 

Cash in company's office, . 

Cash deposited in bank, . 

Bills receivable, .... 

Agents 1 debit balances, 



Total, 

Deduct agents 1 credit balances, 



Total net or ledger assets, as per ba 



$362,688 40 

289,750 00 

35,985 00 

56,029 52 

187,516 19 

873,647 60 

32,822 77 

251,585 82 

1,132 23 

141,222 18 



ance, 



$2,232,379 71 
570 78 

$2,231,808 93 



Other Assets. 
Interest due, $2,906.97 ; accrued, $17,886.17, . 
Rents due, $1,582.13 ; accrued, $4,251.38, 
Market value of stocks and bonds over book, . 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (25 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

$277,672 00 $163,411 00 
27,497 00 227,957 00 



$305,169 00 $391,368 00 
76,292 25 97,842 00 



$228,876 75 $293,526 00 



Internal revenue stamps, . 

Total assets, per company^ books, . 



20,793 14 

5,833 51 

100,643 42 



522,402 75 
7,282 38 

. $2,888,764 13 



Items not admitted. 

Agents 1 debit balances, $141,222 18 

Bills receivable, 1,132 23 

Total, 142,354 41 



Total admitted assets, 
Deduct special deposits in other States, 



. $2,746,409 72 
160,373 60 



Balance, $2,586,036 12 



PROVIDENT SAVINGS LIFE ASSURANCE SOCIETY OF N. Y. 185 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), .... $2,205,275 00 
Deduct net value of reinsured risks, ..... 2,553 00 

Net reserve, 

Present value of unpaid instalments, 

Premium obligations in excess of net values of their policies, 
Death losses in process of adjustment, . . $96,250 00 
Claims resisted by the company, . . . 49,000 00 

Total policy claims, 

Premiums paid in advance, 

Contingent surrender values, 



$2,202,722 00 


5,815 


00 


218 


91 


145,250 00 


5,810 


31 


5,731 


76 



Liabilities as to policy holders, $2,365,547 98 

Deduct liabilities on special deposits, 135,930 00 



$2,229,617 98 
Surplus as regards policy holders, . . . $356,418 14 

Paid-up capital, 100,000 00 

Surplus over capital, 256,418 14 



Gross liabilities, $2,586,036 12 

Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $71,080 08 
received during 1898 (new 
policies, $119,874.04; old 

policies, $57,076.16), . . 176,950 20 

restored by revival of policies, 1,128 90 

Total, . $249,159 18 

Used in payment of losses and claims, . . $1,181 43 

Voided by lapse, 47,228 08 

Redeemed by maker in cash, .... 13,233 48 

Total, 61,642 99 

Balance note assets Dec. 31, 1898, $187,516 19 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 4,378 $12,829,205 00 

Endowment, ... 845 1,541,916 00 

All other, .... 22,206 70,513,247 00 

27,429 $84,884,368 00 



186 PROVIDENT SAVINGS LIFE ASSURANCE SOCIETY OF N. Y. 



Whole life, 
Endowment, 
All other, . 



icies issued 


during the Year. 




Number. 


Amount. Total No. 


Total Amount. 


. 1,967 


$5,745,156 00 




438 


1,107,170 00 




. 6,719 


22,575,467 00 






9,124 


$29,427,793 00 



Whole life, 
Endowment, 
All other, . 



Old Policies revived. 

44 $152,236 00 

2 2,000 00 

128 425,500 00 



174 



579,736 00 



Total, . 



Old Policies increased. 



Whole life, 


54 


$221,263 00 






Endowment, 


6 


21,842 00 






All other, . 


82 


17,916 00 


142 


261,021 00 









36,869 $115,152,918 00 



Whole life, 
Endowment, 
All other, . 



Policies terminated during the Year.* 

. 1,886 $6,112,518 00 

306 651,570 00 

. 5,013 15,796,693 00 



7,205 $22,560,781 00 



How terminated. 



By death, . 


327 


$1,146,306 00 






expiry, . 


3,415 


10,326,125 00 






surrender, . 


134 


386,528 00 






lapse, . 


1,637 


5,209,350 00 






change and decrease, 


80 


789,729 00 






Not taken, . 


1,612 


4,702,743 00 


7,205 


22,560,781 00 



Whole life, 
Endowment, 
All other, . 



Policies in Force Dec. 31, 1898. 

. 4,557 $12,835,312 00 
985 2,021,358 00 
. 24,122 77,735,437 00 
29,664 



92,592,137 00 



PROVIDENT SAYINGS LIFE ASSURANCE SOCIETY OF N. Y. 187 



Schedule A. 
Securities held as Collateral. 

Market Value. 

10 shares Provident Invest. Co., Waco, Texas, $600 00 

240 " Waco Natatorium Co., . . . 24,000 00 

223 " Hancock National Bank, Boston, . 15,610 00 

25 " Mathieson Alkali Works, N. Y., . 375 00 



Loaned Thereon. 

$20,000 00 
15,985 00 



$40,585 00 $35,985 00 



Schedule B. 

Stocks and Bonds owned by the 



80 shares Ann Arbor R.R. Co., 
300 " Chic, Mil. & St. Paul R.R., . 
200 " Chicago & North western R.R., 
200 " Lake Erie & Western R.R., . 
20 " Macon, Ga , Savings Bank, 
50 " Provident N'l Bank, Waco, Texas, 
150 " Pullman's Palace Car Co., 
240 " Sett. Co., Traders' Bank, Tacoma, 
20 " Natatorium Co., Waco, Texas, 
25 " . Washington Trust Co , N. Y., 
United States bonds, 
Ann Arbor R.R. bonds, 
Atchison J. Co. & Western bonds, . 
Atchison, Topeka & Santa Fe bonds, 

Canada loan, 

Central R R. & Bridge Co. bonds, . 
Chicago, Burlington & Quincy R.R. bonds, 
Chicago & Erie R R. bonds, 
Chicago & Western Indiana R.R. bonds, 
Cinn., Sand. & Cleve. R.R bonds, . 
Cleve , Cinn., Chic. & St. Louis R'y bonds, 
Duluth, S. S. & Atl. R R. bonds, 
Englevvood, N. J., school bonds, 
Flint & Pere Marquette R.R. bonds, 
Fremont, Elkhorn & M. V. R.R. bonds, 
Lake Erie & Western R.R. bonds, . 
Minneapolis & St. Louis R.R. bonds, 
Montreal city bonds, 
Nashville, Ch. & St. Louis R.R. bonds, 
N. Y. Central & Hudson River R.R. bonds, 
N. Y., Ch. & St. Louis R.R. bonds, 
Norfolk & Western R'y bonds, 
Northwestern Tel. Co. bonds, . 
Oregon Short Line R'y bonds, . 
Pittsburgh & Western R R bonds, 



Company. 

Book Value. 

$6,166 66 

37,062 50 

20,500 00 

16,975 P0 

1,980 00 

5,000 00 

14,312 50 

2,067 00 

2,000 00 

4,618 75 

117,875 00 

12,333 34 

15,241 55 

9,137 50 

2,116 04 

9,950 00 

10,137 50 

15,056 25 

23,550 00 

5,075 00 

18,145 00 

19,425 00 

5,159 15 

7,918 75 

25,525 00 

11,562 50 

29,475 00 

43,357 50 

11,200 00 

58,912 50 

9,162 50 

7,962 50 

15,900 00 

10,862 50 

. 25,137 50 



Market Value. 

$3,120 00 

49,800 00 

28,450 00 

14,850 00 

1,600 00 

5,300 00 

23,700 00 

2,067 00 

2,000 00 

6,000 00 

128,208 34 

14,240 00 

11,200 00 

9,887 50 

2,089 40 

9,100 00 

12,433 34 

16,675 00 

23,750 00 

5,575 00 

19,666 67 

22,155 00 

5,034 15 

8,400 00 

27,600 00 

11,750 00 

32,825 00 

46,559 60 

10,500 00 

78,433 34 

10,512 50 

8,850 00 

16,350 00 

12,750 00 

29,400 00 



188 



THE PRUDENTIAL INSURANCE CO. OF AMERICA. 



Quebec government bonds, 
Richmond city, Va , bonds, 
Southern R'y Co. bonds, . 
Texas & Pacific R.R. bonds, 
Toledo & Ohio Central R R. bonds, 
Toronto city debentures, . 
Toronto, Ham. & Buffalo R'y bonds 
Union Pacific R R. bonds, . 
Wabash R.R. bonds, . 
"Winnipeg city bonds, 



Book Value. 

$14,565 30 
10,100 00 
26,587 50 
35,203 59 

7,760 00 
59,251 22 

9,100 00 
23,343 75 
30,876 25 
26,000 00 



Market Value. 

$15,269 85 
10,250 00 
31,050 00 
43,833 33 

8,320 00 
60,204 75 

9,100 00 
25,781 25 
33,650 00 
26,000 00 



$873,647 60 8974,291 02 



"THE PRUDENTIAL INSURANCE COMPANY OF AMERICA," 

NEWARK, N. J. 

[Incorporated 1873. Commenced business 1876.] 

Paid-up Capital, $2,000,000. 

John F. Dryden, President. Forrest F. Dryden, Secretary. 

Income. 

Received for premiums on new policies (ordinary), . . $1,0J0,763 67 

for premiums on new policies (industrial), . . 2,111,379 66 

for renewal premiums (ordinary), .... 1,540,701 98 

for renewal premiums (industrial), . . . . 11,157,983 89 

Dividends applied to pay running premiums, . . . . 4,049 11 

Dividends applied to purchase paid-up additions and annuities, 4,118 89 

Surrender values applied to pay running premiums, . . 516 83 

Surrender values applied to purchase paid-up insurance and 

annuities, 431,846 75 

Received for annuities, 15,610 24 

Total £16,276,971 02 

Deduct amount paid for reinsurance, 23,642 51 



Total premium income, $16,253,328 51 

Received for interest, 1,010,515 38 

Received for rents of company's property, .... 209, 8 35 41 

Premium notes or loans restored, 2,499 68 

Profit on securities sold, 5,644 76 

Profit and loss account, 52 00 

Total income, $17,481,875 74 

Net or ledger assets Dec. 31, 1897, 23,072,224 26 

Total, $40,554,100 00 



THE PRUDENTIAL INSURANCE CO. OF AMERICA. 



189 



Disbursements. 

Paid for losses and additions, 

for matured endowments and additions, . 
on matured instalment policies, 

Gross amount paid for losses and endowments, 
Paid to annuitants, . . . . . 
Premium notes voided by lapse, .... 
Loans or liens voided by lapse, .... 
Cash dividends paid policy holders, 

applied to pay running premiums, 
applied to purchase paid-up insurance 

annuities, 

Surrender values paid in cash, .... 
applied to pay running premiums, 
applied to purchase paid-up insurance 
annuities, 



and 



and 



Total paid policy holders, 

Cash paid for dividends to stockholders, . 

for commissions and bonuses to agents (new poll 
cies, $1,643,014.06 ; renewals, $1,736,779.14), 

for salaries and allowances to managers and agents 

for medical examiner's fees and inspections, . 

for salaries of officers and home office employees 

for taxes on premiums, 

for taxes on surplus, $52,401 . 18 ; internal revenue 
827,654.53, 

for taxes on real estate, .... 

for fees, licenses, etc., .... 

for rent, 

for advertising, printing, postage, etc., . 

for legal expenses, 

for furniture and office fixtures, 

for real estate expenses (except taxes), . 

for loss on sales of property, . 

for incidentals, 

On account depreciation, 



1,749,534 72 

5,788 00 

350 00 



,,755,672 72 

2,635 29 

13,291 06 

8,092 82 

139,739 40 

4,049 11 

4,118 89 

29,440 26 

516 83 

431,846 75 



Total disbursements, . 



Balance, 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 



$5,389,403 13 
200,000 00 

3,379,793 20 

1,804,051 45 

299,584 22 

629,774 82 

162,838 38 

80,055 71 

45,384 04 

40,558 20 

182,610 18 

289,392 74 

28,833 91 

60,164 48 

92,789 85 

32,880 52 

54,273 71 

155,033 49 

$12,927,422 03 

$27,626,677 97 



$3,557,234 29 

10,489,318 63 

30,000 00 

171,312 47 



190 THE PRUDENTIAL INSURANCE CO. OF AKERH 

Premium notes or loans on policies in force, .... $54,25- 
Book value of bonds owned (schedule B), . . . , 12,013 447 

Cash in company's office, 13,121 93 

Cash deposited in bank, 1,297,985 10 

Total net or ledger assets, as per balance, . . $27,626,677 97 

Other Assets. 

Interest due, £ 71,878. 65; accrued, $224,273.86, . . . 296,152 51 

Rents due, 84,774.17: accrued, £7,316. 32, .... 12,09049 

Market value of bonds over book, 320,177 50 

New Business. Renewals. 

Uncollected premiums on poli- 
cies in force, .... $90,665 45 $56,032 51 

Deferred premiums on policies 

in force, 272,320 13 447,944 15 

Total, $362,985 58 $503,976 66 

Deduct loading (20 per cent.), . 72,597 12 100,795 33 

Net amount of uncollected and 
deferred premiums, . . $290,388 46 $403,181 33 

693,569 79 

Net amount of uncollected premiums (industrial), . . 19,394 37 

Furniture and fixtures, 42,216 21 

Stationery and supplies, 4,643 21 

Law library, 6,767 19 

Total assets, per company's books, .... $29,021,689 24 

Items not admitted. 

Office furniture, etc. $42,216 21 

Agency supplies, stationery, etc., . . . 4,643 21 

Law library, 6,767 19 

Total 53,626 61 

Total admitted assets, £28,968,062 63 



Liabilities. 
Computed premium reserve or net present value of all out- 
standing policies (actuaries 1 4 per cent.), 
Deduct net value of reinsured risks, 



Net reserve, .... 
Present value of unpaid instalments, 
Death losses in process of adjustment, 
Claims resisted by the company, 

Total policy claims, . 



$21,888,256 00 
23,366 00 






£21,864,890 00 
4,041 88 



$46,875 03 
21,264 49 



68,139 52 



THE PRUDENTIAL INSURANCE CO. OF AMERICA. 191 

Unpaid dividends of surplus due policy holders, . . . $3,265 69 

Premiums paid in advance, 17,019 91 

Due for taxes, fees, salaries, expenses, etc., .... 28,763 66 

Special reserve, 1,000,000 00 

Liabilities as to policy holders, 122,986,120 66 

Surplus as regards policy holders, . . . $5,981,941 97 

Paid-up capital, 2,000,000 00 

Surplus over capital 3,981,941 97 

Gross liabilities, $28,968,062 63 



Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . . $40,600 58 
rec'd during 1898 (old policies) , 38,876 50 

restored by revival of policies, 2,499 68 

Total, $81,976 76 

Used in payment of losses and claims, . . $335 71 

Used in purchase of surrendered policies, . 5,726 41 

Voided by lapse, 13,291 06 

Used in payment of dividends to policy holders, 1,680 18 

Redeemed by maker in cash, .... 6,685 35 

Total, ' . 27,718 71 



Balance note assets Dec. 31, 1898, 



$54,258 05 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, IS 97. 





Number. 


Amount. 


Whole life, . 


. 45,469 


$50,552,312 00 


Endowment, . 


. 6,650 


7,409,943 00 


All other,. 


464 


1,355,562 00 


Reversionary additions, 


• 


28,821 00 



:omi 



No. 



Total Amount. 



52,583 $59,346,638 00 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 

. 31,493 $34,984,857 00 
. 4,768 4,868,074 00 
. 1,067 1,602,969 00 
37,328 



41,455,900 00 



Whole life, 
Endowment, 
All other,. 



Old Policies revived. 
1,721 $1,814,665 00 
158 153,750 00 

1 2,000 00 



1,880 



1,970,415 00 



102 



THE PRUDENTIAL INSURANCE CO. OF AMERICA. 



Old Policies changed and increased. 







Number. 


Amount. Total No. 


Total Amount. 


Whole life, 


. . . 


- 


8105,491 00 




Endowment, 


. . 


- 


73,202 00 




All other, 


. 


- 


500 00 


f 179,193 00 








Additions by d 


vidends, . 


• 


. 


8,492 00 






f 102,960,638 00 




Policies terminated during the Tear. 




Whole life, 


i . • 


17,358 


$19,076,999 00 




Endowment, 


> . . 


2,042 


2,247,736 00 




All other, . 


• 


464 


1,081,050 00 






19,864 


$22,405,785 00 








How terminated. 




By death,. 


i t t 


424 


£435,855 00 




maturity, 


• • 


6 


5,588 00 




expiry, 


. 


27 


31,500 00 




surrender, 


. . 


467 


539,571 00 




lapse, . 


. 


15,302 


14,752,204 00 




change and 


decrease, 


- 


748,118 00 




Not taken, 


• • 


3,638 


5,892,949 00 

19,864 


22,405,785 00 



Policies in Force Dec. 31, 1898. 

m 

Whole life, . . . 61,325 $68,380,326 00 
Endowment, . . . 9,534 10,257,233 00 
All other, . . . 1,068 1,880,451 00 

Reversionary additions, . - 36,843 00 

71,927 80,554,853 00 

Industrial policies in force, .... 2,924,526 333,992,200 00 



Newark, N. J., Gas Co. bonds, . 



Schedule A. 
Securities held as Collateral. 

Market Value. Loaned Thereon. 

$41,100 00 $30,000 00 



Schedule B. 
Bonds owned by the Company. 

Book Value. 



United States bonds, .... 
Atlantic City, N. J., bonds, 
Borough of Asbury Park, N. J., bonds, 
Borough of Chatham, N. J., bonds, . 
Borough of Lodi. N. J., bonds, 
Buft'alo City, N. Y., Gas Co. bonds, . 



?1 19,500 00 

281,562 50 

49,275 00 

45,000 00 

13,800 00 

191,000 00 



Market Value. 

$111,000 00 

287,500 00 

50,850 00 

45,000 00 

13,800 00 

186,000 00 



THE PRUDENTIAL INSURANCE CO. OF AMERICA. 



193 



Columbus, O., bonds, 
City of Elizabeth, N. J., bonds, 
Equitable Gas Light Co., N. Y., bonds, 
Jersey City, X J., bonds, . 
Kansas City, Mo., Gas Co. bonds, . 
Lackawanna Iron & Steel Co. bonds, 
Newark, N. J., bonds, 
Newark, N. J., Gas Co. bonds, . 
Newark, X. J , Consol. Gas Co. bonds, 
New Jersey Zinc Co. bonds, 
Orange, N. J., bonds, 
Passaic, N. J., Water Co. bonds, 
Township of East Orange, N. J., bonds, 
Atch., Topeka & Santa Fe R.R. bonds, 
Baltimore & Potomac R R. bonds, . 
Bellefontaine & Indiana R.R. bonds, 
Camden & Atlantic R.R. bonds, 
Cedar Rapids & Missouri River R.R. bonds, 
Chicago, Burlington & Quincy R.R. bonds, 
Chicago, Milwaukee & St. Paul R.R. bonds, 
Chicago & St. Louis R.R. bonds, 
Chicago & Northwestern R R. bonds, 
Chicago, St. Louis & Pittsburg R.R bonds, 
Chicago, Burlington & Quincy R R. bonds, 
Chicago, St. Paul & Minneapolis R.R. bonds 
Chicago, St. Louis & New Orleans R.R. bonds 
Chicago & Southwestern R.R. bonds, 
Chicago & Northwestern R.R. bonds, 
Chicago, Burlington & Quincy R.R. bonds, 
Chicago, Rock Island & Pacific R.R. bonds, 
Ciu., Indianapolis, St. Louis & Chic. R.R. b'ds 
Cin., Dayton & Ironton R.R. bonds, . 
Cleve., Cin., Chicago & St. Louis R.R. bonds, 
Cleve., Col., Cin. & Indianap. R.R. bonds, 
Columbus & Indianapolis Central R.R. bonds 
Detroit, Monroe & Toledo R.R. bonds, 
Detroit, Grand Rapids & Western R.R. bonds, 
East Tenn., Va. & Ga. R.R. bonds, . 
Escanaba & Lake Superior R R. bonds, . 
Fremont, Elkhorn & Mo Valley R.R. bonds, 
Hannibal & St. Joseph R.R. bonds, . 
Harlem River & Portchester R.R. bonds, 
Ind. Belt R.R. & Stock Yard Co. R.R. bonds, 
Ionia & Lansing R R. bonds, . 
Iowa Midland R.R. bonds, 
Jackson, Lansing &. Saginaw R.R. bonds, 
Kalamazoo, Allegan & Gr. Rapids R.R. bonds, 
Kan. City & Independ. Air Line R.R. bonds, . 



Book Value. 

$180,162 50 
276,190 00 
147,000 00 

53,625 00 

53,150 00 
315,000 00 
396,701 00 

24,700 00 
512,500 00 
315,000 00 
107,000 00 
100,000 00 
4,534 75 
142,250 00 

31,805 00 
3,314 40 
7,327 60 

66,982 50 
388,312 55 
192,437 50 

123.465 00 
50,000 00 

127,468 75 

440,671 30 

3,686 25 

748,995 50 

68,188 70 

5,593 75 

125,422 50 

360,500 00 

308,535 00 

33,675 00 

39,800 00 

304,684 70 

341.466 00 
79,038 75 

115,400 00 

11,550 00 

9,456 90 

85,256 95 

244,751 50 
5,787 50 

264,437 50 
14,130 20 
56,721 00 
57,619 75 
26,125 00 
39,840 00 



Market Value. 

$185,400 00 

281,000 00 

147,500 00 

60,500 00 

53,900 00 

315,000 00 

445,884 00 

26,030 00 

525,000 00 

318,000 00 

121,820 00 

100,000 00 

4,534 75 

148,125 00 

32,240 00 

3,000 00 

7,105 00 

66,040 00 

368,220 00 

198,000 00 

134,310 00 

51,500 00 

132,000 00 

452,295 00 

3,960 00 

769,120 00 

65,920 00 

5,625 00 

126,880 00 

367,500 00 

320,320 00 

32,850 00 

39,800 00 

279,770 00 

337,407 50 

76,545 00 

122,850 00 

11,495 00 

9,540 00 

92,460 00 

252,890 00 

57,625 00 

270,000 00 

14,070 00 

53,750 00 

60,465 00 

30,000 00 

40,800 00 



194 



THE TRAVELERS INSURANCE CO. 



Lake Shore R.R bonds, 

Lake Shore & Michigan Southern R R. bonds, 
Louisiana ft Missouri River R R. bonds, 
Long Island R.R. bonds, . 
Louisiana ft Missouri River R.R. bonds, 
Michigan Central R R. bonds, . 
Milwaukee & Madison R.R. bonds, . 
Milwaukeee & Northern R.R. bonds, 
Minneapolis & St Louis R.R. bonds, 
Morris & Essex R.R. bonds, 
N. Y. Central & Hudson River R.R. bonds, 
X. Y., Lackawanna & Western R.R. bonds, 
North Hudson County, X. J., R.R. bonds, 
Ottawa, Oswego & Fox River V. R.R. bonds 
Pittsburg, Cincinnati & St. Louis R.R. bonds, 
St. Louis & Iron Mountain R.R. bonds, . 
St. Paul & Northern Pacific R.R. bonds, . 
St. Paul, Minn. £ Manitoba R.R. bonds, . 
Syracuse, Binghamton & N. Y. R.R. bonds, 
Union & Logansport R.R bonds, 
Union Pacific R.R. & Land Grant bonds, 
West Shore R.R. bonds, .... 
Winona & St. Peter R.R. bonds, 
Bridgeport Traction Co. St. R'y bonds, . 
Consolidated Traction Co. St. R'y bonds, 
Essex Passenger R.R. bonds, . 
Newark Passenger Railway bonds, . 
North Jersey St. R'y bonds, 
Plainfield Street R.R. bonds, . 
Rapid Transit of Newark Street R.R. bonds, 
Trenton Street R'y bonds, 



Book Valce. 

$150,324 70 

129,340 00 

127,387 35 

270,545 00 

9,592 20 

105,758 35 

122,105 00 

168,845 45 

00 

4,385 00 

28,408 75 

2,312 50 

7,215 00 

30,160 30 

,498 35 

172,745 00 

500,534 50 

460,456 50 

5,950 00 

14,437 00 

97,500 00 

63,000 00 

116,008 75 

325,000 00 

225,810 00 

12,320 00 

108,480 00 

12,300 00 

7,200 00 

308,870 00 

108,000 00 



Market Value. 

1136,350 00 

129,920 00 
118,300 00 

273,970 00 

9,540 00 

107,400 00 

124,300 00 

174,240 00 

2,470 00 

4,360 00 

28,625 00 

2,350 00 

00 

27,057 50 

201,743 75 

176,790 00 

513,495 00 

475,280 00 

6,262 50 

14.280 00 

,000 00 

66,600 00 

114,540 00 

360,500 00 

235,425 00 

12,320 00 

113,280 00 

12,150 00 

8,000 00 

352,080 00 

108,000 00 



$12,013,447 50? 12,333,625 00 



" THE TRAVELERS INSURANCE COMPANY," HARTFORD, CONN. 

[life department.] 

[Incorporated June 17, 1863. Commenced business July 1, 1566.] 

James G. Battersox, President. John E. Morris, Secretary. 

Income. 

Received for premiums on new policies, $457,664 65 

Received for renewal premiums, 2,307,885 38 

Surrender values applied to pay running premiums, . . 4,742 51 

Received for annuities, 13,196 36 

Total, $2,783,488 90 

Deduct amount paid for reinsurance, 96,140 10 

Total premium income, , $2,657,348 80 



THE TRAVELERS INSURANCE CO. 



195 



Received for interest, .... 
Received for rents of company's property, 
Profit and loss account, .... 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



Total, 



. $858,529 55 

86,404 80 

7,550 67 

. $3,639,833 82 
. 18,145,325 49 

$21,785,159 31 



Disbursements. 

Paid for losses, 

for matured endowments, .... 
on matured instalment policies, 

Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Net amount paid for losses and endowments, . 

Paid to annuitants, 

Surrender values paid in cash, 

Surrender values applied to pay running premiums, 



Total paid policy holders, ...... 

Cash paid for dividends to stockholders, .... 

for commissions and bonuses to agents (new poli- 
cies, $202,425.51 ; renewals, $108,671.94), . 

for salaries and allowances to managers and agents 

for medical examiner's fees and inspections, . 

for salaries of officers and home office employees, 

for taxes on new premiums, $3,909 . 33 ; on renewals, 
$23,460.19, 

for taxes on franchise, $1,450; on reserves, 
$3,733 . 80 ; internal revenue, $3,521 . 30, 

for taxes on real estate, 

for fees, licenses, etc., 

for rent, 

for advertising, printing and postage, . 

for legal expenses, 

for furniture and office fixtures, . . . 

for real estate expenses (except taxes), . 

for loss on sales of property, .... 

for incidentals, , 



$654,181 59 
223,882 65 
116,876 42 



$994,940 66 
12,481 00 



$982,459 66 

15,511 69 

368,641 97 

4,742 51 



$1,371,355 83 
125,000 00 

311,097 45 
44,233 59 
23,777 16 
78,062 63 

27,369 52 

8,705 10 
35,640 70 
16,207 94 
17,351 38 
27,039 24 
6,038 37 
1,061 77 
78,734 02 
20,097 04 
25,907 74 



Total disbursements, . 



• • t • i 



. $2,217,679 48 



Balance. 



$19,567,479 83 



106 



THE TRAVELERS INSURANCE CO, 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 
Book value of stocks and bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 

Agents' debit balances, 



Total net or ledger assets, as per balance, 



|1357,041 71 

5,785,923 99 
1,182,327 64 
1,175,489 24 
8,525,745 49 

2,025 98 
1,036,378 60 

2,547 18 



$19,567,479 83 



Other Assets. 

Interest accrued, 

Market value of real estate over book, . 
Market value of stocks and bonds overbook, . 



219,172 
152,642 
274,546 



23 
72 

32 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

$90,745 78 $211,800 83 
59,338 02 307,433 73 



$150,083 80 
30,016 76 



$519,234 56 
103,846 91 



$1 20,067 04 $415,387 65 



535,454 69 
Total assets, per company's books, $20,749,295 79 

Items not admitted. 
Agents' debit balances, 2,547 18 

Total admitted assets, $20,746,748 61 

Deduct special deposits in other States, 1,190,397 40 

Balance, f 19,556,351 21 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $18,321,280 00 
Deduct net value of reinsured risks, 365,823 00 

Net reserve, f 17,955,457 00 

Present value of unpaid instalments, ..... 507,044 00 
Reserve for indemnity contracts, 5,000 00 






THE TRAVELERS INSURANCE CO. 



197 



Death losses due and unpaid, . 
Matured endowments due and unpaid, 
Death losses in process of adjustment, 
Claims resisted by the company, 

Total policy claims, .... 
Premiums paid in advance, 
Due for taxes, fees, salaries, expenses, etc., 
Special reserve fund, .... 



Liabilities as to policy holders,. 
Deduct liabilities on special deposits, 

Surplus as regards policy holders, . 
Gross liabilities, 



$10,800 00 

3,887 00 

93,162 23 

7,550 00 



$115,399 23 

35,267 68 

25,000 00 

400,000 00 



$19,043,167 91 
. 1,190,397 40 

$17,852,770 51 
. 1,703,580 70 

$19,556,351 21 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1S97. 

Number. Amount. Total No. Total Amount. 

Whole life, . . . 22,784 $61,745,750 00 

Endowment, . . . 8,617 20,886,951 00 

All other, .... 3,039 9,249,509 00 

34,440 $91,882,210 00 



Policies issued during the Tear. 



Whole life, 
Endowment, 
All other, . 



Whole life, 
Endowment, 
All other, . 



Whole life, 
Endowment, 
All other, . 

. Total, . 



3,652 


$10,547,944 00 


1,605 


4,001,609 00 


558 


1,267,050 00 


Old Policies revived. 


40 


$115,266 00 


12 


42,420 00 


9 


53,975 00 



5,815 15,816,603 00 



61 



Old Policies transferred and increased. 

39 $208,262 00 

26 128,805 00 

374 1,088,730 00 
439 



211,661 00 



1,425,797 00 



40,755 $109,336,271 00 



Policies terminated during the Year. 

Whole life, . . . 2,286 $7,099,685 00 
Endowment, . . . 1,038 2,713,601 00 
All other, .... 639 2,170,164 00 



3,963 $11,983,450 00 



198 



THE TRAVELERS INSURANCE CO. 





How terminated. 






Number. 


Amount. Total No. 


Total Amount. 


By death, . 


364 


$922,330 00 




maturity, 


137 


213,425 00 




expiry, . 


250 


878,500 00 




surrender, . 


579 


1,635,494 00 




lapse, . 


. 1,182 


2,909,649 00 




change and dec 


rease, . 630 


2,634,268 00 




Not taken, . 


821 


2,789,784 00 








3,963 


$11,983,450 00 



Whole life, 
Endowment, 
All other, . 



Policies in Force Dec. 31, 1898. 

. 24,229 $65,517,537 00 
. 9,222 22,346,184 00 
. 3,341 9,489,100 00 
36,792 



97,352,821 00 



Schedule A. 
Securities held as Collateral. 



Galv., Harrisb. & San Antonio R.R. bonds, 

4 shares Eagle Lock Co., Terry ville, Conn., 

6 " Southern N. E. Tel. Co., New Haven 

Mortgages assigned, .... 

Mortgages assigned, .... 
25 shares First Nat'l Bank, Durango, Col., 
50 " Broadway Inv. Co., Denver, Col., 
10 " Farmers' High L. Can. & Res. Co. 

720 " E. N. Welch Mfg. Co., . 

821 " Bristol Brass & Clock Co., Conn., 

423 " Bristol Mfg. Co., Conn., . 

Mortgage, Bristol, Conn., 

Texas & New Orleans R.R. bonds, . 

Southern Pacific of Arizona R.R. bonds, 

Galv., Harrisburg & San Ant. R.R. bonds, 

Mortgage, Seattle, Wash., 

1,275 shares Third Ave. R.R., N. Y. city, 
422 " Denver Tramway, Denver, Col., 

Warranty deed, Denver, Col., . 

Mortgage, Brooklyn, N. Y., 

Trust deed, Pueblo, Col., . 

Pennsylvania Company bonds, 

Mortgage, Hartford, 

Mortgage, Denver, Col., . 

Arizona funding bonds, . 

Mortgages assigned, 

926 shares The Bradstreet Co., N.Y 

Centralia & Chester R.R. bonds, 



Market Value. 

$64,480 00 

200 00 

750 00 

15,000 00 

86,574 10 

2,500 00 

2,500 00 

5,000 00 

18,000 00 

30,787 50 

15,862 50 

20,000 00 

26,125 00 

84,656 25 

40,300 00 

54,000 00 

216,750 00 

33,760 00 

45,000 00 

6C0 00 

7,000 00 

4,680 00 

6,700 00 

2,500 00 

15,150 00 

16,000 00 

463,000 00 

27,200 00 



Loaned Thereon. 

145,500 00 

• 450 00 

i 

7,000 00 
69,000 00 

2,000 00 



} 



1 

\ 45,000 00 



100,000 00 

43,927 64 
150,000 00 

35,000 00 

500 00 

5,000 00 

3,750 00 

3,700 00 

2,000 00 

10,000 00 

10,000 00 

200,000 00 

21,400 00 









THE TRAVELERS INSURANCE CO. 



199 



30 shares Hartford Trust Co., 

51 " shares Phoenix Ins. Co., Hartford, 
102 " Southern N. E. Telephone Co, 

19 " N. Y , N. H & H. R.R. Co , 
North Chicago Street R.R. bonds, . 
Ogden Street, Chicago, R.R. bonds, . 
Union El., Chicago, R.R. bonds, 
West Chicago Street R.R. bonds, 
Chic. Passenger R.R. bonds, 
Cicero & Proviso St. R R. bonds, 
United States bonds, .... 
27 shares Conn. General Life Ins. Co., 



Schedule B. 



$24,000 00 



Market Value. Loaned Thereon 
$4,500 00 

9,588 00 
12,750 00 

3,800 00 
139,055 00^ 
165,240 00 
26,000 00 
88,440 00 
85,000 00 
13,000 00 

2,240 00 

3,645 00 



400,000 00 



1,600 00 
2,500 00 



$1,858,333 35 $1,182,327 64 



500 shares 


1,650 


H 


1,250 


(1 


600 


tt 


1,000 


II 


770 


(C 


500 


it 


100 


H 


62 


(( 


2,000 


It 


425 


II 


75 


II 


500 


M 


244 


II 


300 


It 


675 


It 


580 


It 


1,199 


II 


250 


II 


250 


It 


302 


It 


300 


It 


200 


(t 


200 


tl 


240 


It 


100 


tl 


50 


tt 


200 


It 


100 


II 


350 


tt 


140 


II 



Stocks and Bonds owned by the Company. 

Book Value. Market Value. 

Del., Lack. & Western R R., . $33,656 25 $39,250 00 

N. Y. Central & Hudson Riv. R.R., 175,425 00 202,950 00 

Lake Shore & Mich. South. R.R., 157,425 00 250,000 00 

Rensselaer & Saratoga R.R., . 106,800 00 110,400 00 

Missouri Pacific R.R , . . . 103,537 50 45,500 00 

Chic, Rock Island & Pacific R.R., 85,856 25 87,780 00 

Central Pacific R.R 46,612 50 21,937 50 

Boston & Albany R R , . . 20,161 50 24,600 00 

N. Y., N. H. & Hartford R R., . 7,378 00 12,400 00 

Chicago & Northwestern R.R., . 236,775 00 284,500 00 

Southern R.R., .... 14,237 50 17,850 00 

Mobile & Birmingham R.R., . 7,500 00 750 00 

Northern Pacific R.R., . . . 16,500 00 38,875 00 

Atch., Topeka & Santa Fe R.R , . 5,917 00 12,688 00 

Manhattan Railway, . . . 30,200 00 29,325 00 

Southwestern R.R. Co. of Georgia, 64,125 00 67,500 00 

Nat'l Exch'ge B'k, H'tford, Conn , 41,846 50 36,250 00 

Hartford National Bank, Conn , . 189,153 75 163,663 50 

First Nat'l Bank, Hartford, Conn., 26,636 63 28,000 00 

Charter Oak Nat'l B'k, Hart., Ct., 30,216 25 22,750 00 

Thames Nat'l Bank, Norwich, Ct., 42,492 00 46,810 00 

First Nat'l Bank, Wallingford,Ct., 31,800 00 35,400 00 

First Nat'l Bank, Middletown, Ct., 21,097 00 20,800 00 

Am. Ex. Nat'l Bank, New York, . 21,413 00 34,400 00 

Mer. Ex. Nat'l Bank, New York, . 11,912 79 13,920 00 

Nassau Bank, New York, . . 7,250 00 7,500 00 

N'l Ger.-Am. B'k, St. Paul, Minn., 15,100 00 3,500 00 

N'l B'k of C'wealth, Boston, Mass., 21,212 75 29,200 00 

Atlas Nat'l Bank, Boston, Mass., . 11,900 00 10,750 00 

Con. T. & S D. Co., Hart., Conn , 29,400 00 57,750 00 

Security Co., Hartford, Conn., . 14,736 25 17,220 00 



200 



THE TRAVELERS INSURANCE CO. 



840 shares Hartford City Gas Light Co., 
2,470 " Hartford L. & T. Co., Den., Col., 
Province of Manitoba bonds, . 
Province of Quebec bonds, 
Clark County, South Dakota, bonds, 
Mecklenburgh County, N. C, bonds 
Cumberland County, N. C, bonds, 
Union County, S. C, bonds, 
Pendleton County, Ky., bonds, . 
De Kalb County, Ala., bonds, . 
Laramie Co., Wyo , bonds, 
Coconino County, Ariz., bonds, 
Tarrant County, Texas, bonds, . 
Bexar County, Texas, bonds, . 
McLennan County, Texas, bonds, 
Sault Ste. Marie, Ont., town bonds, 
Parkdale, Ont , town bonds, 
Collingwood, Ont., town bonds, 
Almonte, Ont , town bonds, 
Paris, Ont., town bonds, . 
Port Arthur, Ont., town bonds, 
Coaticook, Quebec, town bonds, 
Iberville, Quebec, town bonds, 
Whitesboro, Tex., town bonds, 
Cedartown, Ga., town bonds, . 
Wilson, N C, town bonds, 
East Las Vegas, N. M., town bonds 
Suffield, Conn., town bonds, 
Frankfort, So Dak , township bonds 
North, Ind., township bonds, . 
Lancaster, Kan , township bonds, 
Walnut, Kan., township bonds, 
Rock Creek, Kan., township bonds, 
Parker, Kan., township bonds,. 
Canton, Kan , township bonds, 
Elk, Kan., township bonds, 
Crawford, Kan., township bonds, 
Blaine, Kan., township bonds, . 
Oswego, Kan., township bonds, 
Winnipeg, Man., city bonds, . 
Brandon, Man., city bonds, 
Minneapolis, Minn., city bonds, 
Winona, Minn., city bonds, 
Colorado City, Col., city bonds, 
Canon City, Col., city bonds, . 
Pueblo, Col , city bonds, . 
Cheyenne, Wyo., city bonds, . 
Lexington, Ky., city bonds, 



Book Value. 

$38,235 01 

247,000 00 

79,443 47 

47,449 83 

1,752 00 

26,812 50 

85,000 00 

66,875 00 

21,200 00 

15,000 00 

50,000 00 

15,000 00 

50,000 00 

52,500 00 

75,600 00 

50,995 00 

11,765 00 

4,300 00 

9,131 33 

8,567 75 

43,000 00 

25,375 00 

10,325 00 

10,000 00 

50,000 00 

12,000 00 

10,200 00 

5,000 00 

1,455 00 

15,000 00 

14,850 00 

18,000 00 

25,000 00 

24,500 00 

15,200 00 

13,125 00 

23,875 00 

13,200 00 

9,500 00 

79,470 00 

25,000 00 

58,187 50 

33,000 00 

5,000 00 

30,070 00 

22,736 25 

65,000 00 

30,600 00 



Market Valne. 
$35,280 00 

172,900 00 
83,190 80 
52,501 60 
2,000 00 
26,812 50 
85,000 00 
66,875 00 
21,500 00 
15,000 00 
50,000 00 
15,000 00 
50,000 00 
58,000 00 
75,600 00 
50,000 00 
12,300 00 
4,472 00 
9,737 50 
8,760 00 
43,000 00 
27,250 00 
10,500 00 
10,000 00 
54,000 00 
12,000 00 
11,375 00 
5,000 00 
1,500 00 
15,000 00 
15,000 00 
18,000 00 
25,000 00 
25,000 00 
16,000 00 
15,000 00 
25,000 00 
16,000 00 
9,500 00 
78,000 00 
25,250 00 
58,187 50 
33,000 00 
5,100 00 
31,620 00 
25,370 00 
66,462 50 
33,900 00 



THE TRAVELERS INSURANCE CO. 



201 



Quitman, Ga., city bonds, 

Way cross, Ga., city bonds, 

Jersey City, N. J., city bonds, 

Bayonne, N. J., city bonds, 

Farmersville, Tex., city bonds, 

St. Jo., Tex., city bonds, . 

Orange, Tex., city bonds, . 

Greensboro, N. C, ciiy bonds, 

Fayetteville, N. C, city bonds, 

Missoula, Mont., city bonds, 

Helena, Mont., city bonds, 

Butte, Mont., city bonds, . 

Boise City, Idaho, city bonds, 

Salt Lake City, Utah, city bonds, 

Logan, Utah, city bonds, . 

Sioux City, Iowa, city bonds, 

Indianapolis, Ind., city bonds, 

Falls City, Neb., city bonds, 

Tecumseh, Neb., city bonds, 

Edgar, Neb., city bonds, . 

Clyde City, Kan., city bonds, 

Arkansas City, Kan., city bonds, 

Ottawa, Kan., city bonds, . 

Sherbrooke, Que., city bonds, 

Quebec, Que., city bonds, . 

Hull, Que., city bonds, 

St. Hyacinthe, Que., city bonds 

Montreal, Que., city bonds, 

St Thomas, Ont , city bonds, 

Toronto, Ont., city bonds, 

Guelph, Ont., city bonds, . 

Port Hope, Ont., city bonds, 

Brantford, Ont., city bonds, 

Stratford, Ont , city bonds, 

Vancouver, B. C, city bonds, 

Victoria, B C, city bonds, 

Kansas City, Mo , certificates, 

Atchison, Topeka & Santa Fe R.R. bonds 

Brooklyn, N. Y., Elevated R.R. bonds, 

Canadian Pacific R.R. bonds, . 

Chicago & Western Indiana R.R. bonds, 

Chicago, Hammond & Western R.R. bonds, 

Chicago, Milwaukee & St. Paul R.R. bonds, 

Cincinnati, Dayton & Ironton R R. bonds, 

Cincinnati, Ind., St. Louis & Chic. R R. bonds, 

Chicago, Rock Island & Pacific R.R. bonds, 

Columbus & Toledo R.R. bonds, 

Connecticut River R.R. bonds, . 



Book Value. 

$20,000 00 
25,000 00 
99,750 00 
94,950 00 
11,365 00 
4,890 00 
14,070 00 
17,680 00 
6,370 00 
25,750 00 
23,876 30 
45,700 00 
30,000 00 
23,287 50 
15,500 00 
17,650 00 
24,949 75 
22,560 00 
20,895 00 
12,935 00 
4,375 00 
26,250 00 
8,160 00 
30,750 00 
49,000 00 
10,200 00 
10,150 00 
54,585 73 
33,765 00 
50,000 00 
81,522 20 
60,600 00 
53,102 50 
11,182 50 
10,920 00 
13,250 00 

289,807 45 
39,540 00 
28,645 00 
49,000 00 

116,875 00 

120,000 00 
77,700 00 
27,000 00 
94,000 00 

312,000 00 
11,750 00 
75,000 00 



Market Value. 

$20,000 00 
26,687 50 

100,000 00 
94,950 00 
11,500 00 
5,250 00 
14,000 00 
18,742 50 
6,500 00 
27,312 50 
25,127 50 
49,312 50 
30,000 00 
23,747 50 
16,500 00 
17,000 00 
24,727 04 
24,000 00 
21,210 00 
13,130 00 
5,000 00 
26,750 00 
8,240 00 
33,300 00 
52,500 00 
10,200 00 
10,450 00 
58,420 00 
33,000 00 
52,000 00 
83,950 00 
61,800 00 
56,650 00 
11,445 00 
11,600 00 
14,000 00 

315,890 12 
46,941 25 
23,750 00 
53,500 00 

119,500 00 

120,000 00 
93,600 00 
27,500 00 

102,000 00 

320,625 00 
11,400 00 
75,000 00 



202 



THE TRAVELERS INSURANCE CO. 



Central of New Jersey R.R. bonds, . 
Duluth, South Shore & Atlantic R.R. bonds, 

Erie R R. bonds, 

Fonda, Johnstown & Gloversville R.R. bonds 

Eureka Springs R.R. bonds, 

Hereford, Ca , R.R. bonds, 

Indianapolis & Vincennes R.R. bonds, . 

Kanawha & Michigan R.R. bonds, . 

Kansas City & Pacific R.R. bonds, . 

Keokuk & Des Moines R.R. bonds, . 

Knoxville & Ohio R.R. bonds, . 

Lake Shore & Michigan Southern R.R. bonds 

Lehigh Valley Terminal R.R bonds, 

Mobile & Birmingham R.R. bonds, . 

New Haven & Derby R R. bonds, . 

Ohio & Mississippi R.R. bonds, 

Port Reading R.R. bonds, .... 

Pittsburgh & Western R.R. bonds, . 

Reading R.R. bonds 

Rio Grande Junction R R. bonds, 
Southern R.R. bonds, .... 
St. Louis & San Francisco R.R. bonds, 
Southern Pacific R.R. bonds, . 
Stillwater & St. Paul R.R. bonds, . 
Seaboard & Roanoke R.R. bonds, . 
Terre Haute & Peoria R R bonds, . 
Texas & Pacific R.R. bonds, 
Toledo, St. Louis & Kansas City R.R. bonds, 
Black Rocks & Salisbury Beach St. R.R. bonds 
Cicero & Proviso St. R.R. bonds, 
North Chicago, 111., St R.R. bonds, . 
Toledo, Ohio, Electric St. R R. bonds, 
Toledo, Ohio, Traction Co. bonds, . 
Naumkeag, Salem, Mass., St. R.R. bonds, 
Amsterdam, N. Y., St. R.R. bonds, . 
Kansas City, Mo., Cable R.R. bonds, 
Second Ave., N. Y. City, R.R. bonds, 
Hartford, Ct., Street Railway Co. bonds, . 
Cons. L. & R'y Co. bonds, Huntington, W. Ya. 
St. Louis Merchants 1 Bridge Term. R.R. bonds 
Georgia R R. & Banking Co. bonds, 
Hunt Drainage District bonds, . 
Windsor Locks, Conn., bonds, . 
Brooklyn Wharf and Warehouse Co. bonds, 
Fort Smith & Van Buren Bridge Co bonds, 
Middletown & Portland Bridge Co. bonds, 
Massillon & Cleveland Coal Co. bonds, . 
Western Union Telegraph Co. bonds, 



Book Value. 

$112,125 00 

4,825 00 

21,750 00 

104,000 00 
25,000 00 
50,000 00 
17,027 50 
19,375 00 
18,590 00 
4,950 00 
50,880 00 
2,110 00 
53,625 00 
15,000 00 
98,282 50 

109,575 00 
51,000 00 
44,860 00 
8,000 00 
45,000 00 
85,106 25 

100,500 00 

111,000 00 
32,690 00 

103,000 00 
20,400 00 
99,725 00 
87,750 00 
22,500 00 
50,000 00 
51,750 00 
17,125 00 
49,000 00 
47,500 00 
47,500 00 
50,000 00 
54,375 00 

101,000 00 
98,000 00 
50,450 00 

179,992 50 
25,000 00 
38,000 00 

250,250 00 

44,200 00 

46,500 00 

9,900 00 

99,287 50 



Market Value. 

fll6,000 00 

5,650 00 

23,625 00 

105,000 00 
16,250 00 
50,000 00 
16,800 00 
20,000 00 
18,750 00 
10,800 00 
61,000 00 
2,175 00 
56,500 00 
7,000 00 
94,300 00 

109,575 00 

52,750 00 

55,000 00 

8,400 00 

47,500 00 

106,000 00 

125,000 00 

109,500 00 
29,050 00 

106,000 00 
12,000 00 

109,500 00 
81,000 00 
25,000 00 
50,000 00 
52,000 00 
20,000 00 
50,000 00 
50,000 00 
47,500 00 
50,500 00 
57,500 00 

102,000 00 
98,000 00 
52,500 00 

174,500 00 
25,000 00 
40,000 00 

232,500 00 
45,045 00 
47,000 00 
10,000 00 

115,000 00 



THE UNION CENTKAL LIFE INSUKANCE CO. 203 

Book Value. Market Value. 

Eastern Illinois Coal Co. bonds, . . . $14,500 00 $7,250 00 

Denver Consolidated Electric Co. bonds, . 24,375 00 25,000 00 

Parsons, Kan., Light and Heat Co. bonds, . 30,016 25 30,000 00 

Allentown, Pa., Gas Co. bonds, . . . 48,500 00 50,000 00 



$8,525,745 49 $8,800,291 81 



"THE UNION CENTRAL LIFE INSURANCE COMPANY," 
CINCINNATI, OHIO. 

[Incorporated 1867. Commenced business 1867.] 
Paid-up Capital, $100,000. 

John M. Pattison, President. E. P. Marshall, Secretary. 

Income. 

Received for premiums on new policies, $881,113 65 

Received for renewal premiums, 2,952,191 67 

Dividends applied to pay running premiums, .... 81,857 69 

Dividends applied to purchase paid-up additions and annuities, 18,122 08 

Surrender values applied to pay running premiums, . . 6,636 94 
Surrender values applied to purchase paid-up insurance and 

annuities, 85,553 72 

Received for annuities, 32,323 02 

Total, $4,057,798 77 

Deduct amount paid for reinsurance, ..... 89,842 39 

Total premium income, $3,967,956 38 

Received for interest, 1,196,182 88 

Received for rents of company's property, .... 20,992 63 

Total income $5,185,131' 89 

Net or ledger assets Dec. 31, 1897, 17,931,272 13 

Total, $23,116,404 02 

Disbursements. 

Paid for losses and additions, $848,105 25 

Paid for matured endowments and additions, .... 167,958 88 

Gross amount paid for losses and endowments, . . $1,016,064 13 
Received for losses and claims on policies reinsured, . . 2,500 00 

Net amount paid for losses and endowments, . . . $1,013,564 13 

Paid to annuitants, 3,893 07 

Premium notes or loans voided by lapse, .... 201,035 50 

Cash dividends paid policy holders, 80,949 88 

applied to pay running premiums, . . 81,857 69 
applied to purchase paid-up additions and 

annuities, 18,122 08 



204 



THE UNION CENTRAL LIFE INSURANCE CO. 



Surrender values paid in cash, 

applied to pay running premiums, 
applied to purchase paid-up insurance and 
annuities, 

Total paid policy holders, 

Cash paid for dividends to stockholders, .... 

for commissions and bonuses to agents (new poli- 
cies, $457,939.10; renewals, $184,162.29),. 

for salaries and allowances to managers and agents 

for medical examiner's fees, .... 

for salaries of officers and home office employees 

for taxes on premiums, 

for taxes on investments, $1,249.89; on reserves 
$ 431. 50; internal revenue, § 5,874. 29, 

for taxes on real estate, 

for fees, licenses, etc., 

for rent, 

for commuting commissions, .... 

for advertising, printing and postage, 

for legal expenses, 

for furniture and office fixtures, 

for real estate expenses (except taxes), . 

for loss on sales of property, .... 

for incidentals, 

Profit and loss account, 



$109,446 50 
6,636 94 

85,553 72 



$1,601,059 51 
10,000 00' 

642,101 39 
54,082 73 
59,160 25 

113,279 70 
50,472 59 

7,555 68 
12,799 34 
12,864 32 
31,367 64 
222 89 
39,138 41 
12,206 77 
16,952 16 
16,991 72 

7,274 55 

173,482 34 

42,743 82 



Total disbursements, $2,903,755 81 



Balance, 

r 

Invested in the following : — 



$20,212,648 21 



Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgage of real estate (first liens), 
Loans on company's policies assigned as collateral 
Premium notes or loans on policies in force, . 
Cost value of United States bonds owned, 
Cash in company's office, ..... 

Cash deposited in bank, 

Bills receivable, 

Agents' debit balances, 

Total, 

Deduct agents' credit balances, 



$577,020 67 

15,468,620 75 

2,240,593 16 

958,158 03 

384,734 37 

481 07 

351,082 00 

69,527 34 

192,240 02 

$20,242,457 41 
29,809 20 



Total net or ledger assets, as per balance, 



£20,212,648 21 



THE UNION CENTRAL LIFE INSURANCE CO. 205 



Other Assets. 

Interest due, $63,989.70; accrued, $511,874.58, . . . $575,864 28 

Rents accrued, 8,039 57 

Market value of real estate over cost, 5,367 76 

Market value of United States bonds over cost, . . . 2,546 88 

New Business. Renewals. 

Uncollected premiums on poli- 
cies in force, .... $225,946 56 $63,796 81 

Deferred premiums on policies 
in force, 22,414 98 56,759 74 



Total, $248,361 54 $120,556 55 

Deduct loading (20 per cent.),. 49,672 31 24,11131 

Net amount of uncollected and 

deferred premiums, . . $198,689 23 $96,445 24 



295,134 47 



Total assets, per company's books, .... $21,099,601 17 

Items not admitted. 

Agents' debit balances, $192,240 02 

69,527 34 
261,767 36 



Bills receivable, .... 
Total, 

Total admitted assets, 
Deduct special deposits in other States, 



Balance, 



$20,837,833 81 
11,187 00 

$20,826,646 81 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . , . $17,974,956 00 
Deduct net value of reinsured risks, 58,288 00 



Net reserve, $17,916,668 00 

Commissions due on premium notes, 118,471 55 

Matured endowments due and unpaid, . . $3,100 00 

Death losses in process of adjustment, . . 72,777 00 

Claims resisted by the company, . . . 47,448 00 

Total policy claims, 123,325 00 

Unpaid dividends of surplus due policy holders, . . . 5,396 51 

Premiums paid in advance, 72,210 68 



Liabilities as to policy holders, $18,236,071 74 

Deduct liabilities on special deposits, 11,187 00 



$18,224,884 74 



206 



THE UNION CENTRAL LIFE INSURANCE CO. 



Surplus as regards policy holders, . . . 12,601,762 07 

Paid-up capital, $100,000 00 

Surplus over capital, 2,501,762 07 

Gross liabilities, $20,826,646 81 



Premium Note Account. 



Premium notes on hand Dec. 31, 1897, 
Premium notes rec'd during 1898 (new policies, 
$354,172.95; old policies, $1,269,539.08), 

Total, 

Used in payment of losses and claims, 
Used in purchase of surrendered policies, 

Voided by lapse, 

Used in payment of dividends to policyholders 
Redeemed by maker in cash, . 

Total 



Balance note assets Dec. 31, 1898, 



?916,650 67 
1,623,712 03 

$12,577 21 
3,008 46 

201,035 50 

3,196 46 

1,362,387 04 



$2,540,362 70 



1,582,204 67 
$958,158 03 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount. 



Whole life, 


• 


52,205 $94,132,245 00 






Endowment, . 


• 


, 4,729 8,081,941 00 






All other, 


t 


, 1,646 4,176,800 00 






Reversionary additions, 


126,358 00 


58,580 
ir. 


$106,517,344 00 




Policies issued during the Tec 


Whole life, 


• 


. 15,588 $32,376,884 00 






Endowment, . 


• 


845 1,585,085 00 






All other, 


• 


711 2,115,300 00 


17,144 


36,077,269 00 






Old Policies revived. 


Whole life, 


i 


509 $949,320 00 






Endowment, . 


t 


35 59,900 00 






All other, 


• 


11 29,500 00 


555 


1,038,720 00 
32,092 00 


Additions by divi 


[lends, 


»•••■• 






76,279 


$143,665,425 00 




Policies terminated during the Year. 




Whole life, 


• 


8,915 f20,102,090 00 






Endowment, . 


i 


552 1,126,398 00 






All other, 


• 


693 1,863,260 00 







10,160 $23,091,748 00 






UNION MUTUAL LIFE INSURANCE CO. 



207 



How terminated. 





Number. 


Amount. Total No. 


Total Amount. 


By death, . 


480 


$855,229 00 




maturity, . 


129 


232,818 00 




expiry, 


161 


246,000 00 




surrender, . 


422 


867,138 00 




lapse, . . . 


. 5,695 


11,219,614 00 




change and decreas 


B,. 249 


1,512,510 00 




Not taken, 


. 3,024 


8,158,439 00 








10,160 


$23,091,748 00 



Policies in Force Dec. 31, 1898. 

Whole life, . . . 59,387 $107,356,359 00 

Endowment, . . . 5,057 8,600,528 00 

All other, . . . 1,675 4,467,200 00 

Reversionary additions, . - 149,590 00 



66,119 120,573,677 00 



"UNION MUTUAL LIFE INSURANCE COMPANY," PORTLAND, ME. 

[Incorporated July 17, 1848. Commenced business Oct. 1, 1849.] 

Feed E. Richards, President. J. Frank Lang, Secretary. 

Income. 

Received for premiums on new policies, $240,369 47 

Received for renewal premiums, 978,149 34 

Dividends applied to pay running premiums, .... 11,489 49 

Dividends applied to purchase paid-up additions and annuities, 21,680 04 

Surrender values applied to pay running premiums, . . 5,514 74 
Surrender values applied to purchase paid-up insurance and 

annuities, 22,746 59 

Total, $1,279,949 67 

Deduct amount paid for reinsurance, 1,300 38 

Total premium income, ....... $1,278,649 29 

Received for interest, 302,958 28 

as discount on claims paid in advance, . . . 739 33 

for rents of company's property, .... 20,198 04 

Premium notes or loans restored, 230 00 

Profit on securities sold, 62,885 91 

Total income, $1,665,660 85 

Net or ledger assets Dec. 31, 1897, 6,860,391 35 

Total, .......... $8,526,052 20 



208 



UNION MUTUAL LIFE INSURANCE CO. 



and 



Disbursements. 

Paid for losses and additions, 

for matured endowments and additions, . 
on matured instalment policies, 

Gross amount paid for losses and endowments, 

Paid to annuitants, 

Premium notes or loans voided by lapse, 
Loans on policies voided by lapse, .... 
Cash dividends paid policy holders, .... 
applied to pay running premiums, . 
applied to purchase paid-up additions 

annuities, 

Surrender values paid in cash, 

applied to pay running premiums, 
applied to purchase paid-up insurance and 
annuities, 

Total paid policy holders, 

Cash paid for commissions and bonuses to agents (new poll 
cies, $141,908.37 ; renewals, $56,975.53), . 

for salaries and allowances to managers and agents 

for medical examiner's fees, .... 

for salaries of officers and home office employees, 

for taxes on new premiums, $3,273.65; on re 
newals, $10,833.90, 

for taxes on reserves, 

for taxes on real estate, 

for fees, licenses, etc., 

for rent, . 

for commuting commissions, . 

for advertising, printing and postage, 

for legal expenses, .... 

for furniture and office fixtures, 

for real estate expenses (except taxes), 

for loss on sales of property, . 

for incidentals, 

Profit and loss account, 



Total disbursements, 
Balance, 



$549,414 19 

121,716 11 

1,620 00 

$672,750 30 

588 33 

305 00 

10,660 30 

11,273 68 

11,489 49 

21,680 04 

72,909 34 

5,514 74 

22,746 59 
$829,917 81 

198,883 90 

122,020 31 

28,615 74 

64,171 00 

14,107 55 
2,704 58 
9,927 22 
9,516 02 

17,610 00 
699 01 

27,795 95 

11,206 58 
1,074 93 

10,622 87 
925 00 

13,199 29 

39,607 19 

$1,402,604 95 
$7,123,447 25 



Invested in the following : — 

Assets as per Ledger Accounts 

Book value of real estate 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 



. $1,022,939 55 

. 1,274,461 66 

674,773 69 

9,825 00 



UNION MUTUAL LIFE INSURANCE CO. 



209 



Premium notes or loans on policies in force, . 
Book value of stocks and bonds owned (schedule B), 
Cash in company's office, . 

deposited in bank, . 

in transit (since received), 
Bills receivable, 
Agents 1 debit balances, 
Cash notes taken for premiums, 

Total net or ledger assets, as per balance, 



$158,767 00 

3,840,642 87 

269 00 

84,906 47 

1,946 78 

14,422 00 

5,479 61 

35,013 62 

$7,123,447 25 



Other Assets. 

Interest due, $6,650.52 ; accrued, $59,538.06, . 

Rents accrued, 

Market value of stocks and bonds over book, . 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.), 

Net amount of uncollected and 
deferred premiums, 



New Business. 

$49,213 13 
27,681 44 



Renewals. 
$88,970 46 

77,787 84 



$76,894 57 $166,758 30 
15,378 92 33,351 66 



$61,515 65 $133,406 64 



66,188 58 

1,010 83 

157,967 95 



Total assets, per company's books, . 



194,922 29 



. $7,543,536 90 



Items not admitted. 
Agents 1 debit balances, ..... $5,479 61 

Bills receivable, 14,422 00 

Loan in excess of market value, . . . 1,290 00 

Total 21,191 61 



Total admitted assets, . . , 
Deduct special deposits in other States, . 



. $7,522,345 29 
. 716,503 32 



Balance, $6,805,841 97 

Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries 1 4 per cent.), .... $6,785,615 00 
Deduct net value of reinsured risks, 3,503 00 



Net reserve, 



$6,782,112 00 



210 UNION MUTUAL LITE INSURANCE CO. 

Present value of unpaid instalments, . $20,273 00 

Premium obligations in excess of net values, .... 80 00 
Matured endowments due and unpaid, . . $16,376 50 
Death losses in process of adjustment, . . 104,080 52 
Claims resisted by the company, . . . 2,000 00 

Total policy claims, 122,457 02 

Unpaid dividends of surplus due policy holders, . . . 3,639 22 

Premiums paid in advance, 1,310 93 

Contingent reserve, 41 00 

Bills payable, 1,000 00 

Liabilities as to policy holders, $6,930,913 17 

Deduct liabilities on special deposits, 716,503 32 



$6,214,409 85 
Surplus as regards policy holders, 591,432 12 

Gross liabilities, $6,805,841 97 



Premium Note Account. 

Premium notes on hand Dec. 31, 1897, . 
received during 1898, 
restored by revival of policies 

Total, 

Used in payment of losses and claims, . 
Used in purchase of surrendered policies, 

Voided by lapse, 

Used in payment of dividends to policy holders 
Redeemed by maker in cash, . 

Total, 



Balance note assets Dec. 31, 1898, 



$176,839 00 




4,872 00 




230 00 






$181,941 00 




$13,699 00 




4,313 00 




305 00 




4,059 00 




798 00 






23,174 00 




t i • 


$158,767 00 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897, 

Number. Amount. Total No. 



Whole life, . . . 15,300 


$23,802,415 00 


Endowment, . . . 6,153 


10,173,901 00 


All other, .... 3,046 


5,457,058 00 


Reversionary additions and 




return premiums, . . - 


510,001 00 


Policies issued during the Year. 


Whole life, . . . 5,071 


$6,939,812 00 


Endowment, . . . 1,078 


1,333,145 00 


Allother, .... 199 


395,000 00 



Total Amount. 



24,499 $39,943,375 00 



6,348 8,667,957 00 



UNION MUTUAL LIFE INSURANCE CO. 



211 



Old Policies revived. 







Number. 


Amount. Total No. 


Total Amount. 


Whole life, 


• • t 


50 


$65,035 00 




Endowment, 


• • t 


9 


10,000 00 




All other, . 


i • • 


2 


2,760 00 


$77,795 00 






Ul 




Old Policies transferred and increased. 




Whole life, 


• • • 


14 


$21,300 00 




Endowment, 


• • t 


' 45 


38,466 00 




All other, . 


• • • 


483 


732,676 00 

*M9 


792,442 00 






Via 


Additions by 


dividends, . 




• t • • — 


92,725 00 






$49,574,294 00 




Policies terminated during the Year. 




Whole life, 


• • • 


3,305 


64,878,403 00 




Endowment, 


• • • 


857 


1,257,619 00 




All other, . 


tat 


626 


1,215,908 00 






4,788 


$7,351,930 00 








How terminated. 




By death, . 




315 


$577,122 00 




maturity, 




112 


125,143 00 




expiry, . 




425 


822,570 00 




surrender, 




275 


579,217 00 




lapse, . 




2,199 


2,838,385 00 




change and decrease, . 


542 


910,628 00 




Not taken, . 


• * * 


920 


1,498,865 00 


7,351,930 00 






*,<Oo 




Policies in Force Dec. 31, 1898. 




Whole life, 


% • • 


17,130 


$25,950,159 00 




Endowment, 


• • • 


6,428 


10,297,893 00 




All other, . 


• t • 


3,104 


5,419,744 00 




Reversionary 


additions and 








return premiums, . 


- 


554,568 00 










26,662 


42,222,364 00 



Schedule A. 
Securities held as Collateral. 

Market Value. Loaned Thereon. 

24 shares Central Wharf, Portland, Me., . . $24,000 00 $12,000 00 

5 " First Nat. Bank, Wiscasset, Me., . 500 00 495 00 

70 " Flint and Pere Marquette R.R,, . 3,010 00 4,300 00 



212 



UNION MUTUAL LIFE INSURANCE CO. 



9 shares Central Wharf, Portland, Me., 
125 " Camden & Rockland Water Co., 

63 " Camden & Rockland Water Co., 
Lime Rock R.R., Rockland, Me., bond3, . 

50 shares Portland & Rochester R.R., 

80 " Portland, Me., Water Co., 
110 « Nat'l Shoe & Leather B% Aubun 
Mortgage, Minneapolis, Minn., 
52 shares Portland, Me., Water Co., 
90 " Portland R R., . 
City of Portland, Me., bonds, . 
Fort Smith, Ark., Water Co. bonds, 
Kalispell Water Co bonds, 
Crystal Water Co. bonds, . 
Mt. Vernon Water Co bonds, . 
Springfield R.R. bonds, 
20 shares Portland Trust Co., . 
Fort Smith, Ark., Water Co. bonds, 
Crystal Water Co. bonds, . 
12 shares Portland R.R., . 
Maine & New Hampshire Granite Co. bonds, 
Maine & New Hampshire Granite Co. bonds, 
100 shares State Publishing Association, . 
100 " Maine Trust & Banking Co., . 
Fort Smith, Ark., Water Co. bonds, . 
300 shares Lime Rock R.R., 
Bangor & Aroostook R.R. bonds, 
300 shares P. H. & J. M. Brown Co., 

10 " Fort Fairfield National Bank, . 

10 *' Presque Isle National Bank, . 
Mortgages, 

400 shares Rockland, Me., B'ld'g Syndicate, 
25 " Lime Rock R R., . . * . 
1,742 " Mer.Ex.B'ldvCo^Kan.C'y, Mo. 

112 " Cobb Lime Co., . 

100 " Lime Rock R.R., . 
80 " First National Bank, Bath, Me., 

168 " Bath National Bank, Bath, Me., 

169 " Hereford R.R., . 

49 " Maine Trust & Banking Co., 
Citizens' Street R'y Co., Indianapolis, bonds, 
20 shares A. F. Crockett Co., . 
Cert, of dep., Chapman N'l B'k, Portland, Me. 
Central Georgia Railway bonds, 

10 shares Fort Fairfield National Bank, . 
475 " Portland & Rumford Falls R.R., 
150 " Lime Rock R.R 

44 " Camden & Rockland Water Co., 



Market Value. Loaned Thereon. 


$9,000 00 


$4,200 00 


12,500 00 


10,000 00 


6,300 00 


5,000 00 


7,280 00 


4,000 00 


6,250 00 


5,000 00 


8,000 00 


5,000 00 


11,000 00 


9,000 00 


15,259 60 


14,275 73 


5,200 00 


5,000 00 


13,500 00 


9,500 00 


3,390 00 


3,000 00 


6,500 00 n 




3,000 00 i 


14,000 00 


6,000 00 ) 




1,000 00 


681 17 


4,000 00 


3,500 00 


2,500 00 


2,000 00 


5,000 00 


4,000 00 


1,500 00 


500 00 


1,800 00 


1,100 00 


9,500 00 


8,500 00 


5,500 00 


5,000 00 


10,000 00 


8,300 00 


13,000 00 


10,000 00 


1,000 00 


800 CO 


30,000 00 


20,000 00 


10,600 00 


9,000 00 


30,000 00 


15,000 00 


1,300 00 ) 
1,350 00 S 


2,000 00 


6,864 48 


4,000 00 


40,000 00 


25,000 00 


2,500 00 


2,000 00 


60,000 00 


56,368 31 


7,840 00 


3,700 00 


10,000 00 


5,000 00 


10,000 00 1 




25,200 00 ! 

16,900 00 i 

6,370 00 J 


50,000 00 




11,250 00 


10,000 00 


20,000 00 


15,000 00 


1,218 42 


1,000 00 


930 00 


800 00 


1,300 00 


620 00 


59,375 00 


26,760 00 


15,000 00 ) 
4,400 00 S 


15,000 00 



UNION MUTUAL LIFE INSURANCE CO. 



213 



8 shares Aroostook Trust and Banking Co., 
Notes and trust deed, Chicago, . 
Springfield Water Works bonds, 
Springfield Water Works bonds, 

5 shares Westbrook Trust Co., 

8 " First National Bank, Portland, 
85 " York County National Bank, . 
Fort Smith Water Co. bonds, . 
Leadville, Col., Water Co. bonds, 
Sterling Water Co. bonds, 

80 shares Athol Water Co., 
500 " Reading Co., . 
Crystal Water Co. bonds, . 
Fort Smith Water Co. bonds, . 
Fort Smith Water Co. bonds, . 
355 shares Portland Water Co., 
Evansville, Ind., bonds, . 
400 shares Philadelphia & Reading R.R., 
150 " Pullman Palace Car Co., 
Bar Harbor Electric Light Co. bonds, 
Fergus Falls Water Co. bonds, 
United Gas & Electric Co. bonds, 
Fort Smith Water Co. bonds, . 
Springfield Water Works bonds, 
Mortgage and notes, . 
Northern Pacific R.R. bonds, . 
Beloit Water Works Co. bonds, 
Maine Steamship Co. bonds, . 
Geneva Gas Co. bonds, 
N. Y. Central & Hudson River R.R. bonds, 

50 shares Goudy & Kent Co., . . 
200 " Merchants' Nat. Bank, Portland, 

40 " Kennebec Light & Heat Co., . 

21 h " Bar Harbor Electric Light Co , 
Kennebec Light & Heat Co. bonds, . 
120 shares Lime Rock R.R., 

23 " First National Bank, Portland, 

25 " John Bird Co., Rockland, 
Bar Harbor Electric Light Co. bonds, 

15 shares Bar Harbor Electric Light Co., 

50 " Cascarde Electric Light Co., . 
100 " Chic, Burlington & Quincy R.R., 
Maine Water Co. bonds, .... 
120 shares The Lewiston Journal Co., 
150 " Edinburgh Land Co , 
150 " Edinburgh Land Co., 

50 " Chic, Burlington & Quincy R.R., 
Rome, Watertown & Ogdensburg R.R. bonds, 



Market Value. Loaned Thereon. 


, $1,120 00 


$750 00 


6,500 00 


1,600 00 


5,000 00 


4,000 00 


11,000 00 


9,500 00 


525 00 


500 00 


816 00 


300 00 


10,200 00 


8,500 00 


500 00^ 




1,000 00 j 




2,000 00 [► 
6,000 00 1 


8,000 00 




3,000 00 J 




8,000 00 ) 
2,000 00 S 


9,000 00 


5,000 00 


5,000 00 


35,500 00 


24,000 00 


1,060 00 \ 




9,600 00 i 


16,332 25 


24,000 00 ) 




5,850 00 


3,250 00 


500 00 


450 00 


4,000 00 ) 
1,000 00 S 


4,500 00 


7,000 00 


6,000 00 


250 00 


250 00 


1,180 00 ) 
1,000 00 S 


2,000 00 


550 00 


500 00 


1,000 00 i 
13,530 00 S 


10,937 50 


5,000 00 


3,500 00 


20,800 00 


18,000 00 


4,000 00 ) 
700 00 S 


4,000 00 


9,450 00 


8,000 00 


12,000 00 


5,847 48 


2,346 00 


2,000 00 


31,250 00 


25,000 00 


1,350 00 ) 
375 00 S 


1,200 00 


5,000 00 


2,500 00 


12,500 00 ) 
1,030 00 S 


11,725 00 


12,000 00 


10,000 00 


11,250 00 


5,000 00 


11,250 00 


5,000 00 


6,250 00 ) 
1,080 00 S 


4,893 75 



214 



UNION MUTUAL LIFE INSURANCE CO. 



Kennebec Light & Heat Co. bonds, . 
Cleveland City Cable R'y bonds, 

United States bonds, 

Erie Telegraph & Telephone Co. bonds, . 

10 shares Western Union Telegraph Co , 
100 " Chic., Burlington & Quincy R.R., 

20 " Chic, Milwaukee & St. Paul R.R , 

10 " Chic, Rock Island & Pacific R.R., 

United States bonds, 

Union Electric Co bonds, 
Kennebec Light & Heat Co. bonds, . 
Sanford Power Co. bonds, 

15 shares York County National Bank, . 
100 " American Sugar Refinery Co., 

50 " Northern Pacific R.R. Co., . 
150 " Edinburgh Land Co., 



Market Value. Loaned Thereon. 



$4,000 00 
2,000 00 

700 00 



► 16,175 00 



$4,725 00 
1,000 00 
1,060 00 
1,000 00 
940 00^ 
12,500 00 
2,400 00 
1,130 00 
2,590 00 
525 00 
525 00 
510 00 J 
1,800 00 1,500 00 

12,500 00 1 9 5Q 

2,200 00 S 
11,250 00 5,000 00 

$940,854 50 $674,773 69 



Schedule B. 

Stocks and Bonds owned by the Company. 

Book Value. Market Value. 

1,050 shares Boston & Maine R.R , . . . $171,898 97 $179,550 00 

200 " Boston Elevated R'y Co., . . 12,487 50 16,400 00 

500 " Fitchburg R.R., .... 51,500 00 57,500 00 

50 " Illinois Central R.R., . . . 5,300 00 5,750 00 

1,200 " N. Y. Cent. & Hudson River R.R., 142,242 90 147,600 00 

400 " Pennsylvania R.R., . . . 22,650 00 24,800 00 

200 " Portland & Rumford Falls R'y, . 18,000 00 25,000 00 

189 " Port., Saco & Portsmouth R.R., . 24,035 96 29,295 00 

700 " West End Street R'y, . . . 59,406 25 63,000 00 

138 " Dixfield & Peru Bridge Co., . 13,800 00 13,800 00 

1 share Mech Falls W. & E. L. & P. Co., 100 00 100 00 

200 shares Canal Nat'l Bank, Portland, . 24,000 00 20,000 00 

122 " Cumberland N'l Bank, Portland, 4,636 00 4,880 00 

114 " First Nat'l Bank, Portland, . . 11,985 00 11,628 00 

36 " Merchants' Nat'l Bank, Portland, 4,176 00 3,744 00 

63 " Nat'l Traders' Bank, Portland, . 6,300 00 6,363 00 

210 " Portland Nat'l Bank, . . . 21,000 00 23,100 00 

2,350 " Union Safe Dep. & T. Co., Port , 235,000 00 264,375 00 

20 " Biddeford Nat'l Bank, . . . 2,400 00 2,000 00 

20 " First Nat'l Bank, Auburn, . . 2,500 00 2,500 00 

10 " First Nat'l Bank, Wiscasset, . 900 00 1,000 00 

100 " First Nat'l Bank, Lewiston, . . 15,000 00 15,400 00 

12 " First Nat'l Bank, Bangor, . . 1,560 00 1,680 00 

50 " First Nat'l Bank, Biddeford, . 7,000 00 6,750 00 

60 " Lime Rock Nat'l Bank, Rockland, 4,200 00 4,200 00 

50 " Manuf. Nat'l Bank, Lewiston, . 5,000 00 6,500 00 

100 " North Nat'l Bank, Rockland, . 13,341 00 13,000 00 



UNION MUTUAL LIFE INSURANCE CO. 



215 



100 shares Northern Nat'l Bank, Hallowell, 
10 " Norway Nat'l Bank, Me., 
40 " People's Nat'l Bank, Waterville, 
5| " Richmond Nat'l Bank, . 
50 •* Rockland Nat'l Bank, . 
50 " Rumford Falls Trust Co., 
35 " Ticonic Nat'l Bank, Waterville, 
50 " Westbrook Trust Co., . 
50 " Com. Nat'l Bank, Omaha, Neb., 
20 " Far. & Mer. N'l B'k, Waco, Tex., 
25 " Flour City N'l B'k, Minn., Minn., 

100 " Nat'l Shawm ut Bank, Boston, 
30 " Nat'l B'k of Com., Omaha, Neb., 
15 T 3 o " People's Invest. Co., Dallas, Tex., 
15 " First N'l B'k, Buch. Co., Mo., . 
20 " Sioux Falls Nat'l B'k, S. D., . 

United States bonds, 

Maine State bonds, . . 

Province of New Brunswick bonds, 

Montreal harbor bonds, . 

Province of Ontario annuities, . 

Cumberland County, Me., bonds, 

Itasca County, Minn., bonds, . 

Jefferson County, Ala., bonds, . 

Spokane County, Wash., bonds, 

Belfast, Me., bonds, . 

Caribou, Me., School District notes, 

Caswell Plantation, Me., note, . 

Damariscotta, Me., bonds, 

Americus, Ga., bonds, 

Berlin, N. H., bonds, 

Boone, Iowa, bonds, . . , 

Cheboygan, Mich , bonds, 

Cote St. Antoine, P. Q., bonds, . 

Delaware, O., bonds, 

Eufaula, Ala., bonds, 

Gorham, N. H., School District note, 

Helena, Mont., bonds, 

Montgomery, Ala., bonds, 

Morris, 111., bonds, . 

Piqua, O., bonds, 

Piano, Tex., bonds, . 

Provo City, Utah, bonds, . 

Pueblo, Col., bonds, . 

Richmond, Va., bonds, 

Seattle, Wash, bonds, 

St. Louis City, Mo., bonds, 

Shelburne, N. H., note, 

Vancouver, B.'C, bonds, . 



Book Value. 

$12,500 00 

1,080 00 

4,400 00 

560 00 

7,250 00 

5,000 00 

3,850 00 

5,000 00 

3,500 00 

1,200 00 

2,500 00 

15,000 00 

2,000 00 

382 50 

1,500 00 

2,000 00 

389,884 44 

48,718 75 

60,577 37 

30,432 50 

369,068 96 

5,050 00 

22,400 00 

70,350 00 

10,650 00 

5,137 50 

5,000 00 

1,000 00 

2,000 00 

10,900 00 

10,437 50 

10,300 00 

18,846 00 

48,773 50 

5,631 25 

26,312 50 

2,000 00 

26,937 50 

26,062 50 

20,596 00 

15,637 50 

2,500 00 

25,000 00 

32,237 50 

10,735 00 

25,068 75 

10,500 00 

3,500 00 

71,121 06 



Market Value. 

$10,000 00 

1,100 00 

4,000 00 

560 00 

7,000 00 

5,250 00 

3,500 00 

5,250 00 

1,250 00 

800 00 

2,500 00 

16,000 00 

1,500 00 

382 50 

1,500 00 

2,000 00 

418,285 00 

50,000 00 

68,100 00 

31,200 00 

374,399 07 

5,050 00 

23,000 00 

73,600 00 

10,600 00 

5,250 00 

5,000 00 

1,000 00 

2,000 00 

11,600 00 

10,600 00 

10,350 00 

19,440 00 

48,825 00 

5,250 00 

28,500 00 

2,000 00 

26,000 00 

27,000 00 

20,600 00 

15,375 00 

2,775 00 

28,750 00 

31,800 00 

11,220 00 

27,000 00 

10,600 00 

3,500 00 

71,389 25 



216 



UNION MUTUAL LIFE INSURANCE CO. 



West Duluth, Minn., bonds, 

Bridgton & Saco River R.R. bonds, 

Knox & Lincoln Railway bonds, 

Lime Rock R.R. bonds, 

Maine Central R.R. bonds, 

Portland & Ogdensburg Railway bonds, . 

Portland & Rumford Falls R'y bonds, 

Penobscot Shore Line R.R. bonds, . 

Rockland, Thornaston & Camden St. R'y bonds 

Central of Georgia R'y bonds, . 

Concord & Montreal R.R. bonds, 

Erie R.R. bonds, 

Hereford Railway bonds, . 

Illinois Central R R. bonds, 

Joilet, 111., Railway bonds, 

Kansas & Missouri R.R bonds, 

Lake Shore & Michigan Southern R'y bonds, 

Lehigh Valley R.R. bonds, 

Louisville & Nashville R.R. bonds, . 

Middlesex Valley R.R. bonds, . 

Norway & Paris St. Railway bonds, 

Saratoga, N. Y., Traction Co. bonds, 

Union Electric Railway, Dover, N. IL, bonds, 

Utica Belt Line Street Railway bonds, . 

Augusta, Me., Water Co. bonds, 

Caribou, Me., Water Co. bonds, 

Freeport, Me., Water Co. bonds, 

Kennebec Light & Heat Co. bonds, . 

Knox, Me., Gas & Electric Co. bonds, 

Maine Water Co. bonds, .... 

Mousam Water Co. bonds, 

Otis Falls Pulp Co., Me., bonds, 

Portland Elevator Co. bonds, . 

Rockland, Me., Water Co. bonds, . . . 

Rumford Falls Power Co. bonds, 

Rumford Falls Light & Water Co. bonds, 

Standish Water & Construction Co. bonds, 

Sanford Power Co bonds, 

Umbagog Paper Co. bonds, 

York Shore Water Co. bonds, . 

Athol, Mass., Water Co. bonds, 

Berlin Water Co. bonds, . 

Crystal Water Co., Edgewater, N. Y., bonds, 

Ellicott Square Co., Buffalo, N. Y., bonds, 

Fort Smith, Ark., Water Co. bonds, 

Goldsboro, N. C, Water Co. bonds, . 

Leadville, Col., Water Co. bonds, . 

Le Mars, Iowa, Water & Light Co. bonds, 

Manitowoc , Wis , Water Works Co. bonds, 



Book Value. 

127,875 00 
10,000 00 
16,125 00 
30,200 00 
100,920 96 
52,000 00 
45,490 00 
91,227 50 
19,600 00 
39,445 00 
26,062 50 
23,250 00 

6,930 00 
23,625 00 

5,000 00 

9,500 00 
25,875 00 
49,505 00 
42,520 00 

1,950 00 
18,900 00 
20,000 00 
23,750 00 
26,325 00 
20,150 00 
10,200 00 
20,000 00 
24,990 00 
24,000 00 
20,000 00 
10,000 00 
23,000 00 
49,000 00 
24,000 00 
22,000 00 

9,270 00 
18,600 00 
41,875 00 
90,000 00 
10,000 00 
18,800 00 
25,000 00 
18,620 00 
26,250 00 
19,600 00 
24,500 00 
20,000 00 
24,500 00 
25,003 .75 



Market Value. 
$30,250 00 

10,200 00 
16,500 00 
31,200 00 
111,000 00 
55,000 00 
49,490 00 
94,600 00 
20,000 00 
39,060 00 
26,250 00 
23,625 00 

7,000 00 
23,625 00 

5,150 00 

7,000 00 
26,500 00 
50,500 00 
42,460 00 

2,000 00 
18,900 00 
15,000 00 
25,000 00 
25,650 00 
20,400 00 
10,000 00 
20,000 00 
26,250 00 
24,720 00 
20,600 00 
10,300 00 
24,150 00 
50,470 00 
25,920 00 
23,100 00 

9,450 00 
20,600 00 
43,350 00 
90,000 00 
10,500 00 
19,950 00 
25,750 00 
19,000 00 
26,875 00 
20,000 00 
25,000 00 
20,000 00 
25,000 00 
25,000 00 



UNITED STATES LIFE INS. CO. IN THE CITY OF NEW YORK. 217 



Oshkosh, Wis , Water Works Co. bonds, 
Port Jarvis, N. Y., Gas Co. bonds, . 
Raton, N. M., Water Works Co bonds, . 
Richmond Water & Light Co., Ky., bonds, 
St Joseph, Mo., Water Co bonds, . 
Union Electric Co., Manchester, N. H., bonds, 
United Gas & Electric Co., N. H., bonds, 



Book Value. 

$24,500 00 
4,700 00 
14,700 00 
17,640 00 
16,660 00 
10,500 00 
25,000 00 



Market Value. 

$25,000 00 
6,000 00 
15,000 00 
16,200 00 
17,000 00 
10,500 00 
25,000 00 



1,840,642 87 $3,998,610 82 



"UNITED STATES LIFE INSURANCE COMPANY IN THE CITY 
OF NEW YORK," NEW YORK, N. Y. 

[Incorporated February, 1850. Commenced business Marcb, 1850.] 
Paid-up Capital, $440,000. 

George H Burford, President. A. Wheelwright, Secretary. 



Income. 

Received for premiums on new policies, .... 

Received for renewal premiums, 

Dividends applied to pay running premiums, . 
Dividends applied to purchase paid-up additions and annuities 
Surrender values applied to pay running premiums, 
Surrender values applied to purchase paid-up insurance and 

annuities, . . . 
Received for annuities, 



Total 

Deduct amount paid for reinsurance, 



Total premium income, 
Received for interest, 

for rents of company's property 

for reinsurance, . 
Loans on policies restored, 
Profit on securities sold, . 



Total income, 
Net or ledger assets Dec. 31, 1897, 



Total. 



f 183,335 40 

904,746 47 

1,153 89 

4,718 00 

421 48 

54,673 83 
52,241 00 

$1,201,290 07 
8,800 92 

$1,192,489 15 

334,245 64 

25,833 17 

914 85 

2,674 50 

17,669 17 

$1,573,826 48 
7,195,250 97 



Disbursements. 
Paid for losses and additions, . 

for matured endowments and additions, 
on matured instalment policies, 

Gross amount paid for losses and endowments, 
Received for losses and claims on policies reinsured, 

Net amount paid for losses and endowments, . 



1,769,077 45 



$522,756 58 

56,444 92 

333 33 

$579,534 83 
5,000 00 

$574,534 83 



218 UNITED STATES LIFE INS. CO. IX THE CITY OF NEW YORK. 



Paid to annuitants, . 
Premium notes voided by lapse, 
Loans on policies voided by lapse, 
Cash dividends paid policy holders, 
applied to pay runn 



ng premiums, 



applied to purchase paid-up additions 
annuities, 
Surrender values paid in cash, . 

applied to pay running premiums, 
applied to purchase paid-up insurance 
annuities, . 



and 



and 



poli 



Total paid policy holders, 

Cash paid for dividends to stockholders, . 

for commissions and bonuses to agents (new 

cies, $118,971.88; renewals, $43,289.18), 
for salaries and allowances to managers and agents 
for medical examiner's fees, . 
for salaries of officers and home office employees, 
for taxes on new premiums, $1,711.94; on re- 
newals, $7,690.59 

for taxes on reserves, $1,359.73 ; internal revenue 

$1,066.47 

for taxes on real estate, . 
for fees, licenses, etc., 

for rent, 

for advertising, printing, postage, etc., 
for legal expenses, .... 
for real estate expenses (except taxes), 

for incidentals, 

Profit and loss account, . . . . 



Total disbursements, . 
Balance. 



$3,278 99 

829 25 

17,243 21 

85,658 78 

1,153 89 

4,718 00 

150,462 22 

421 48 

54,673 83 

$892,974 48 
30,800 00 

162,261 06 
80,287 22 
14,999 55 
61,326 31 

9,402 53 

2,426 20 

7,760 99 

3,828 44 

25,202 82 

31,212 60 

11,531 50 

10,461 60 

18,402 03 

2,531 99 

$1,365,409 32 



$7,403,668 13 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule A), 
on company's policies assigned as collateral, 

Premium notes or loans on policies in force, . 

Book value of stocks and bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 

Bills receivable, 

Agents' debit balances (secured), .... 

Total net or ledger assets, as per balance, 



$532,658 73 

4,716,666 41 

8,345 58 

3§0,288 14 

53,255 61 

1,536,193 84 

1,109 93 

159,963 05 

2,320 00 

12,866 84 



',403,668 13 



UNITED STATES LIFE INS. CO. IN THE CITY OF NEW YORK. 219 



Other Assets. 

Interest due, $6,547.01 ; accrued, $80,017, 
Market value of real estate over cost, 
Market value of stocks and bonds over book, . 



Uncollected premiums on poli- 
cies in force, .... 

Deferred premiums on policies 
in force, 

Total, 

Deduct loading (20 per cent.), . 

Net amount of uncollected and 
deferred premiums, 



New Business. Renewals. 

$34,427 65 $114,553 49 
73,624 53 



Total assets, per company's books, . 



$34,427 65 $188,178 02 
6,885 53 37,635 60 



$27,542 12 $150,542 42 



$86,564 01 

53,041 27 

178,783 46 



178,084 54 
f ,900,141 41 



Items not admitted. 



Bills receivable, 



Total admitted assets, . . . 
Deduct special deposits in other States, . 



2,320 00 



$7,897,821 41 
189,166 80 



Balance, $7,708,654 61 



Liabilities. 

Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), .... $7,000,228 00 
Deduct net value of reinsured risks, 39,448 00 



Net reserve, 

Present value of unpaid instalments, 
Premium obligations in excess of net values, 
Matured endowments due and unpaid, 
Death losses in process of adjustment, . 
Claims resisted by the company, 

Total policy claims, 

Unpaid dividends of surplus due policy holders, 
Premiums paid in advance, .... 
Due for taxes, fees, salaries, expenses, etc., . 
Contingent surrender value, . . 



,960,780 00 

18,667 00 

7,074 10 



$14,127 00 
74,120 31 
12,513 51 



Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 



100,760 82 

9,826 00 

2,732 73 

3,060 52 

2,475 00 



$7,105,376 17 
189,166 80 



1,916,209 37 



220 UNITED STATES LIFE INS. CO. IN TIIK CITY OF NEW YORK. 



Surplus as regards policy holders, . 
Paid-up capital, . 

Surplus over capital, 



$792,445 24 



Gross liabilities, 



$440,000 00 
352,445 24 

$7,708,654 61 



36,498 81 



Premium Note Account. 
Premium notes on hand Dec. 31, 1897, . . $30,890 29 
Premium notes received during 1898 (new poli 
cies, $12,243 ; old policies, $24,255.81) 

Total, 

Used in payment of losses and claims, 
Used in purchase of surrendered policies 
Voided by lapse, .... 
Redeemed by maker in cash, . 

Total, 

Balance note assets Dec. 31, 1898, 





$67,389 10 


$231 26 




350 41 




829 25 




12,722 57 






14,133 49 




... 


$53,255 61 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



Exhibit of Policies. 
Policies and Additions in Force Dec. 31, 1897. 

Number. Amount. Total No. Total Amount 

. 11,235 $21,594,908 00 

. 1,727 3,171,240 00 

. 4,774 13,041,898 00 

190,247 00 

17,736 $37,998,353 00 



Whole life, 
Endowment, 
All other, . 



Policies issued during the Year. 
. 1,760 $3,780,810 00 
338 852,230 00 

775 2,391,949 00 



2,873 7,024,989 00 



Whole life, 
Endowment, 
All other, . 



Old Policies revived. 
25 $58,970 00 

5 7,000 00 

99 299,500 00 



129 



365,470 00 



Old Policies changed and increased. 

Whole life, ... 30 $83,000 00 

Endowment, ... 7 29,500 00 

All other, .... 16 25,500 00 



53 



138,000 00 



Total, . 



. 20,791 $45,526,812 00 



UNITED STATES LIFE INS. CO. IN THE CITY OF NEW YORK. 221 



Policies terminated during the Year. 







Number. 


Amount. Total No. 


Total Amount. 


Whole life, 


i 


. 1,709 


83,477,040 00 






Endowment, 


. 


292 


662,870 00 






All other, . 


• 


. 1,081 


3,236,006 00 








3,082 


$7,375,916 00 








How terminated. 






By death, . 




302 


$560,852 00 






maturity, 




35 


64,329 00 






expiry, . 




212 


785,000 00 






surrender, 




303 


778,573 00 






lapse, . 




. 1,638 


3,611,924 00 






change and c 


ecrease, 


47 


232,738 00 






Not taken, . 


• • 


545 


1,342,500 00 


3,082 


$7,375,916 00 



Policies in Force Dec. 31, 1898. 



Whole life, 
Endowment, 
All other, . 
Reversionary additions, 



11,341 $22,040,708 00 

1,785 3,397,100 00 

4,583 12,541,559 00 

171,529 00 



17,709 38,150,896 00 



Schedule A. 
Securities held as Collateral. 

Market Value. 

40 shares American Tel. & Cable Co., . . $3,920 00 

16 '« United N. J. R.R. & Canal Co , . 4,192 00 

20 " Importers' & Traders' Nat'l Bank, . 9,400 00 

Wabash R.R. bonds, 3,390 00 



Loaned Thereon. 

$145 58 
2,700 00 
3,000 00 
2,500 00 



$20,902 00 $8,345 58 



Schedule B. 

Stocks and Bonds owned by the 



275 shares Union Pacific R.R , 

United States bonds, . 

District of Columbia bonds, 

Jersey City bonds, . 

Jersey City scrip, 

New York, Lackawanna & Western R'y bonds 

Oswego & Syracuse R.R. bonds, 

Chicago & Northwestern Railway bonds, 

Chicago, Milwaukee & St. Paul R'y bonds, 

Missouri Pacific Railway bonds, 



Company. 

Book Value. 

$14,300 00 
60,602 55 

131,384 40 
46,650 60 

109,342 50 
47,801 98 
30,600 00 
97,117 34 

151,885 06 

212,496 75 



Market Value. 

$20,350 00 

55,875 00 

141,300 00 

50,847 50 

114,095 00 

57,120 00 

35,751 00 

106,575 00 

178,750 00 

221,580 00 



222 THE WASHINGTON LITE INSURANCE CO., NEW YORK. 



Iowa Central Railway bonds, . . . . 
St. Louis, Iron Mountain & Southern R'y b'ds, 
Chicago, Burlington & Quincy R'y bonds, 
Union Pacific R.R. bonds, .... 
Louisville & Nashville R.R bonds, . 
Burlington, Cedar Rapids & North'n R'y bonds 
Chicago, Rock Island & Pacific R'y bonds, 
Metropolitan Elevated Railway bonds, . 
East Tenn., Virginia & Georgia R'y bonds, 
Atchison, Topeka & Santa Fe R'y bonds, 
Province of New Brunswick bonds, . 
Texas & Pacific Railway bonds, 
Michigan Central R R. bonds, . 
City of Quebec bonds, .... 
Province of New Brunswick sterling loan, 



Book Value. 

$71,550 00 
35,732 88 
46,195 21 
48,700 62 
36,600 00 
42,000 00 

103,500 00 
14,933 31 
24,518 41 
93,578 17 
20,025 00 
17,559 26 
28,562 50 
25,000 00 
25,557 30 



Market Value. 
|95,922 00 

51,875 00 
54,585 00 
51,500 00 
46,900 00 
54,375 00 
104,750 00 
16,240 00 
28,667 50 
99,000 00 
22,200 00 
27,395 00 
27,707 50 
26,125 00 
25,491 80 



$1,536,193 84 $1,714,977 30 



"THE WASHINGTON LIFE INSURANCE COMPANY," NEW 

YORK, N. Y. 

[Incorporated January, 1860. Commenced business Feb. 2, I860.] 

Paid-up Capital, $125,000. 

W. A. Brewer, Jr., President. Graham H. Brewer, Secretary. 

Income. 

Received for premiums on new policies, $271,717 66 

Received for renewal premiums, 1,492,019 62 

Dividends applied to pay running premiums, .... 77,266 85 

Dividends applied to purchase paid-up additions and annuities, 101,071 00 
Surrender values applied to purchase paid-up insurance and 

annuities, 98,746 43 

Received for annuities, . 21,445 35 

Total premium income, $2,062,266 91 

Received for interest, 613,428 60 

as discount on claims paid in advance, . . . 8,451 09 

for rents of company's property, .... 118,720 80 

Profit on securities sold, 46,422 13 

Total income, $2,849,289 53 

Net or ledger assets Dec. 31, 1897, 14,068,530 69 

Total, $16,917,820 22 

Disbursements. 

Paid for losses and additions, $817,141 32 

Paid for matured endowments and additions, .... 311,471 19 

Gross amount paid for losses and endowments, . . $1,128,612 51 



THE WASHINGTON LIFE INSURANCE CO., NEW YORK. 223 



Paid to annuitants, 

Return premiums, 

Cash dividends applied to pay running premiums, . 

Cash dividends applied to purchase paid-up additions and 

annuities, 

Surrender values paid in cash, 

Surrender values applied to purchase paid-up insurance and 

annuities, 



Total paid policy holders, 

Cash paid for dividends to stockholders, .... 

for commissions and bonuses to agents, new poli- 
cies, $151,485.73 ; renewals, $90,714. 13, . 

for salaries and allowances to managers and agents 

for medical examiner's fees and inspections, . 

for salaries of officers and home office employees, 

for taxes on new premiums, .... 

for taxes on reserves, $2,826.58 ; internal revenue 
$3,762.90, . 

for taxes on real estate, . 

for fees, licenses, etc , 

for rent, .... 

for commuting commissions, 

for advertising, printing, postage, etc., . 

for real estate expenses (except taxes),. 

for loss on sales of property, . 

for incidentals, 

Profit and loss account, 



$20,036 77 

3,163 00 

77,266 85 

101,071 00 
93,256 68 

98,746 43 



^,522,153 24 
8,750 00 

242,199 86 
101,714 12 

43,987 28 
102,948 29 

15,129 15 

6,589 48 
17,915 13 

8,889 80 
60,846 15 
35,156 42 
32,956 81 
23,404 50 
11,312 83 
15,370 80 

7,746 62 



Total disbursements, $2,257,070 48 



Balance, 



$14,660,749 74 



Invested in the following : — 



Assets as per Ledger Accounts 

Cost of real estate, 

Loans on mortgage of real estate (first liens), 

on collateral security (schedule A), 

on company's policies assigned as collateral 
Cost value of bonds owned (schedule B), 
Cash in company's office, . 

deposited in bank, . 

in transit (since received), 
Agents' debit balances, 
Office furniture, 



$4,494,916 60 

8,411,215 38 

50,000 00 

977,267 61 

496,040 33 

17,969 66 

166,065 41 

2,500 00 

37,587 96 

7,186 79 



Total net or ledger assets, as per balance, 



$14,660,749 74 



224 THE WASHINGTON LIFE INSURANCE CO., NEW YORK. 



Other Assets. 
Interest due, $41,816.33 ; accrued, 898,186.27, 
Rents due, $831.25 ; accrued, $19,660.73, 



Uncollected premiums on poli 

cies in force, . 
Deferred premiums on policies 

in force, .... 

Total,. 
Deduct loading (20 per cent.), 

Net amount of uncollected and 
deferred premiums, 



New Business. 

$47,516 19 
35,195 51 



$140,002 60 
20,491 98 



Renewals. 

$73,669 21 
170,839 13 



$82,711 70 $244,508 34 
16,542 34 48,901 67 



$66,169 36 $195,606 67 



261,776 03 



Total assets, per company's books, . 



$15,083,020 35 



Items not admitted and Depreciation. 

Office furniture, $7,186 79 

Agents' debit balances, 37,587 96 

Depreciation from cost of assets, . . . 5,986 25 

Total, 50,761 00 



Total admitted assets, 
Deduct special deposits in other States, . 



Balance, 



$15,032,259 35 
13,129 08 

f 15,019,130 27 



Liabilities. 



Computed premium reserve or net present value of all out- 
standing policies (actuaries' 4 per cent.), . . . $14,350,617 00 
Death losses due and unpaid, .... $916 00 

Matured endowments due and unpaid, . . 8,578 28 

Death losses in process of adjustment, . . 51,353 90 

Total policy claims, . . . . . 60,848 18 

Premiums paid in advance, 11,212 30 



Liabilities as to policy holders, . 
Deduct liabilities on special deposits, 



Surplus as regards policy holders, . 
Paid-up capital, .... 

Surplus over capital, 



$609,581 87 



Gross liabilities, 



$14,422,677 48 

13,129 08 

? 14,409,548 40 

125,000 00 

484,581 87 

$15,019,130 27 






THE WASHINGTON LIFE INSURANCE CO., NEW YORK. 225 



Exhibit of Policies. 





Policies and Additions 


in Force Bee. 31,1897 


. 






Number. 


Amount. 


Total No. 


Total Amount. 


Whole life, 


. 


. 17,424 


$32,933,895 00 






Endowment, 


. 


. 8,882 


16,603,597 00 






Reversionary 


additions, 


. — 


824,743 00 


26,306 


$50,362,235 00 



Whole life, 
Endowment, 



Policies issued during the Year. 

. 3,940 $8,049,386 00- 
877 1,956,622 00 



4,817 10,006,008 00 



Old Policies revived. 



Whole life, 

Endowment, 

All other, 

Additions by dividends, . 

Total, .... 



359 
93 



$703,519 00 

186,836 00 

5,954 00 



452 



896,309 00 
133,781 00 



31,575 $61,398,333 00 



Policies terminated during the Tear. 

Whole life, . . . 3,534 $6,789,296 00 
Endowment, . . . 1,006 2,140,171 00 
All other, .... - 157,503 00 



4,540 $9,086,970 00 



How terminated. 



By death, . 


350 


$796,060 00 


maturity, 


170 


340,536 00 


surrender, . 


644 


1,391,312 00 


lapse, . 


. 2,360 


4,160,087 00 


Not taken, . 


. 1,016 


2,398,975 00 



4,540 9,086,970 00 



Policies in Force Dec. 31, IS 98. 

Whole life, . . . 18,189 $34,897,504 00 
Endowment, . . . 8,846 16,606,884 00 
Reversionary additions, . - 806,975 00 



27,035 52,311,363 00 



226 THE WASHINGTON LIFE INSURANCE CO., NEW YORK. 



Schedule A. 

Securities held as Collateral. 



Illinois Central R.R. bonds, 
United States bonds, .... 
Newark Consolidated Gas Co. bonds, 
Missouri, Kansas & Texas R.R. bonds, 



Market Value. Loaned Thereon. 

$16,150 00 ^ 

2 S S [ <-•- » 

8,800 00 j 



$58,490 00 $50,000 00 



Schedule B. 



Bonds owned by the Company. 



New York city bonds, 

Richmond, Va., bonds, 

Havana municipal bonds, 

Chicago & Northwestern R.R. bonds, 

West Shore R.R. bonds, . 

Winona & St. Peter R.R. bonds, 

Chicago, St. Louis & Pittsburgh R.R. bonds, 

Chicago, Milwaukee & St. Paul R.R. bonds, 

Chicago, St. Louis & New Orleans R.R bonds 

Cinn., Ind., St. Louis & Chicago R.R. bonds, 

St. Paul, Minn. & Manitoba R.R. bonds, . 

Cleveland & Pittsburgh R.R. bonds, 



Cost Value. 

% 125,312 50 
11,230 00 

1,899 08 

25,312 50 

105,971 25 

6,218 75 
11,862 50 
90,858 75 
48,800 00 
20,300 00 
18,337 50 
29,937 50 



Market Value. 

$113,750 00 
11,230 00 

1,899 08 

26,250 00 

110,000 00 

6,218 75 
11,700 00 
91,725 00 
48,800 00 
20,400 00 
18,112 50 
29,968 75 



£496,040 33 $490,054 08 



CASUALTY AND SURETY 
COMPANIES. 



Detailed Statements of Assets and Liabilities, with Abstract 

of Annual Statements, for the Year ending 

December 81, 1898. 



DETAILED STATEMENTS OF ASSETS AND LIABILITIES. 



"^ETNA LIFE INSURANCE COMPANY," HARTFORD, CONN. 

[accident department.] 

[Commenced business, accident department, Jan. 1, 1891.] 

Morgan G. Bulkeley, President. Joel L. English, Secretary. 

Note. — As this company is doing both a life and accident business, and its assets are all held 
equally for the protection of both classes of policy holders, the assets are therefore not divided 
for the different departments. The details of both departments are given in their respective 
places. 

Income. 
Premiums on risks written or renewed, . . $670,609 44 
Less reinsurance and return premiums, . . 13,318 90 

Net cash premiums received, . . . 

Interest and dividends received from all sources, . 
Received from all other sources, viz. : profit and loss, 

Total income accident department, 
Total income life department, . 



Gross income, . 
Net or ledger assets Dec. 31, 1897, 



Total, 



$657,290 54 

15,682 84 

5 98 



$672,979 36 
8,191,375 27 



$8,864,354 63 
45,348,489 61 

$54,212,844 24 



$257,535 51 
10,546 42 



Disbursements. 
Cash paid for matured claims, .... 
Deduct salvage and reinsurance, 

Net cash paid for matured claims, . . 

Cash paid for commissions and brokerage, . . . . 

for salaries and expenses of officers and employees, 

for medical examiner's fees, 

for taxes and fees, . 

for rent, .... 

for legal expenses, . 

for furniture and fixtures, 

for advertising and printing, 

for incidentals, . 

Total disbursements accident department, 
Total disbursements life department, 



Gross disbursements, . 
Balance, 



$246,989 09 

209,267 47 

33,428 65 

3,008 95 

15,185 54 

6,588 43 

6,736 84 

804 43 

10,810 67 

9,354 03 



$542,174 10 
5,900,206 16 



$6,442,380 26 
$47,770,463 98 



230 



iETNA LIFE INSURANCE CO. 



Invested in the following: — 

Assets as per Ledger Accounts 

Cost value of real estate, 

Loans on mortgage of real estate (first liens), 
on collateral security (schedule*), 
on company's policies assigned as collateral 

Premium notes or loans on policies in force, . 

Cost value of stocks and bonds owned (schedule*) 

Cash in company's office, 

Cash deposited in bank, 

Bills receivable, 

Agents 1 debit balances, 

Total, . 
Deduct agents' credit balances, etc., 

Total net or ledger assets, as per balance, 

Other Assets. 

Interest due and accrued, 

Rents due and accrued, 

Market value of stocks and bonds over cost, . 
Net amount of uncollected and deferred premiums, 

Total assets, per company's books, . 

Items not admitted 



. 1471,631 00 


. 22,333,492 31 


537,321 14 


. 1,466,855 00 


543,201 88 


. 15,369,030 87 


200,343 88 


. 6,815,194 97 


16,957 40 


29,650 62 



$47,783,679 
13,215 



07 
09 



$47,770,463 98 



841,216 

2318 

1,236,820 

381,323 



09 
24 
43 
81 



$50,232,642 55 



Agents' debit balances, 
Bills receivable, 
Total, . 



$29,650 62 
16,957 40 



46,608 02 



Total admitted assets, 
Deduct special deposits in other States, . 



f50,186,034 
4,413,167 



53 
61 



Balance, 



$45,772,866 92 



Liabilities. 

Claims adjusted or in process, . 

Claims disputed or resisted, 

Unearned premiums on outstanding risks, 

Liabilities accident department, 
Liabilities life department, 

Gross liabilities, except capital, 
Deduct liability on special deposits, 

Surplus as regards policy holders, . 
Paid-up capital, 



$47,863 58 

28,685 71 

223,723 19 

$300,272 48 
42,278,975 54 

$42,579,248 02 
4,413,167 61 



38,166,080 41 



. $7,606,786 
. 1,750,000 



51 
00 



Surplus over capital, f 5,856,786 51 



* For schedules, see life department, pp. 51 and 52. 



THE JET'S A INDEMNITY CO. 



231 



Risks and Premiums. 
Accident, 

Premiums. 

Risks outstanding Dec. 31, 1897, . . $101,183,170 00 $384,126 04 
Risks written during 1898, . . . 250,599,900 00 670,609 44 



Total 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



$351,783,070 00 $1,054,735 48 
241,921,950 00 625,048 37 



$109,861,120 00 $429,687 11 
902,500 00 2,091 84 



$108,958,620 00 $427,595 27 



Miscellaneous. 
Premiums received from organization of accident department, $2,410,417 00 
Claims paid from organization of accident department, . . 951,937 00 
Claims incurred during the year, 305,585 00 



"THE .ETNA INDEMNITY COMPANY," HARTFORD, CONN. 

[Incorporated March 15, 1897. Commenced business May, 1897.] 

Paid-up Capital, $250,000. 

Robert A. Griffing, President. E. S. Pegram, Secretary. 

Income. 

Fidelity and Surety. Plate Glass. 

Prem's outst'dv Dec. 31, 1897, . $515 00 

Prem's on risks written or ren'd, 



59,154 08 $11,257 74 



Total, 

Prem's now in course of colTn, 



$59,669 08 
1,441 21 



Entire premiums collected, $58,227 87 
Less reinsur. and return prem's, 2,538 86 



406 94 



Net cash premiums rec'd, . $55,689 01 $10,850 80 



Interest and dividends received from all sources, . 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



$66,539 81 
9,280 71 

$75,820 52 
257,476 94 



Total, $333,297 46 



232 THE .ETNA INDEMNITY CO. 



Disbursements. 
Cash paid for matured claims, .... $4,537 74 

Deduct salvage and reinsurance, . . . 876 41 

Net cash paid for matured claims, . . $3,661 33 

Cash paid for commissions and brokerage, .... 15,282 17 

for salaries and expenses of officers and employees, 20,789 26 

for taxes and fees, 1,554 91 

for rent, 2,161 64 

for legal expenses, 611 98 

for furniture and fixtures, 1,267 05 

for advertising and printing, 3,26.0 27 

for incidentals, 5,796 26 



Total disbursements, 154,389 87 



Balance, $278,907 59 



Invested in the following: — 

Assets as per Ledger Accounts. 

Cost value of stocks and bonds owned (schedule A), . $265,398 00 
Cash deposited in bank, 13,509 59 



Total, $278,907 59 



Other Assets. 

Interest due and accrued, 2,690 43 

Market value of stocks and bonds over cost, .... 6,08200 

Gross premiums in course of collection, 1,441 21 



Total assets, per company's books, $289,121 23 



Liabilities. 

Claims known or reported, 
Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc., . 
Commissions and brokerage, . 

Gross liabilities, except capital, • 



Surplus as regards policy holders, 
Paid-up capital, .... 



|481 35 




32,937 39 




625 00 




273 48 






34,317 22 






$254,804 01 




250,000 00 



Surplus over capital, $4,804 01 



THE ^TNA INDEMNITY CO. 



233 



Risks and Premiums. 

Fidelity and Surety. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 



Net amount in force, . 



Plate Glass. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 

In force at end of year, 



8961,410 00 
9,756,354 00 

$10,717,764 00 
1,319,156 00 

$9,398,608 00 
30,000 00 



$28,406 00 
633,362 00 

$661,768 00 
84,106 00 



Premiums. 

$5,407 06 
59,154 08 

$64,561 14 
8,684 39 

$55,876 75 
135 00 



$9,368,608 00 $55,741 75 



$753 12 

11,257 74 

$12,010 86 

1,877 84 



$577,662 00 $10,133 02 



Miscellaneous. 
Premiums received from organization of company, 
Claims paid from organization of company, . 
Claims incurred during the year, . 
Company's stock owned by directors, 



$72,159 00 

3,661 00 

3,661 00 

84,100 00 



Schedule A. 

Stocks and Bonds owned by the Company. 

Cost Value. Market Value. 

Illinois Central R R. stock, .... $10,05000 $11,30000 

United States bonds, 134,056 25 135,000 00 

Chicago, Mil. & St. Paul R.R. bonds, . . 6,212 50 6,500 00 

Central R.R. of New Jersey bonds, . . . 5,525 00 5,737 50 

Town of Bristol, Conn., bonds, . . . 10,800 00 11,100 00 

City of Boston bonds, 25,875 00 27,250 00 

Town of Wallingford, Conn., bonds, . . 9,607 50 9,900 00 

State of Massachusetts bonds 26,843 75 27,437 50 

City of Hartford, Conn., bonds, . . . 9,427 50 9,472 50 

Town of Huntington, Conn , bonds, . . . 2,138 00 2,170 00 

Union Pacific R.R. bonds, .... 9,750 00 10,312 50 

Lynn & Boston R.R. bonds 5,287 50 5,400 00 

Penn. & N. Y. Canal & R.R. Co. bonds, . . 5,000 00 5,000 00 

N. Y. Central & Hudson River R.R. bonds, . 4,825 00 4,900 00 



$265,398 00 $271,480 00 



234 THE AMERICAN BONDING AND TRUST CO. OF BALTIMORE CITY. 



"THE AMERICAN BONDING AND TRUST COMPANY OF 
BALTIMORE CITY," BALTIMORE, MD. 

[Incorporated April 6, 1894. Commenced business Jan. 16, 1895.] 
Paid-up Capital, $500,000. 

James Bond, President. Samuel H. Shriver, Secretary. 

Income. 
Premiums outstanding Dec. 31, 1897, . . $28,042 62 
Premiums on risks written or renewed, . . 226,899 07 



Total, $254,941 69 

Premiums now in course of collection, . . 42,490 11 

Entire premiums collected, . . . f 212,451 58 
Less reinsurance and return premiums, . . 26,696 88 

Net cash premiums received, . . . $185,754 70 

Interest and dividends received from all sources, . . . 21,687 84 

Profit on securities sold, 62 

Received from all other sources, viz.: collateral deposits, . 11,795 11 

Total income, $219,238 27 

Net or ledger assets Dec. 31, 1897, 629,080 25 

Total, $848,318 52 



Disbursements. 

Cash paid for matured claims, .... $69,936 17 
Deduct salvage and reinsurance, . . . 5,020 15 

Net cash paid for matured claims, . . $64,916 02 

Cash paid for commissions and brokerage, .... 26,930 70 

for salaries and expenses of officers and employees, 65,558 20 

for inspections, 129 60 

for taxes and fees, 8,599 13 

for rent 6,999 99 

for legal expenses, 5,082 65 

for furniture and fixtures, 3,681 00 

for advertising and printing, 11,018 27 

for loss on securities sold, 1,043 75 

for incidentals, 11,015 67 

Total disbursements, $204,974 98 

Balance $643,343 54 



THE AMERICAN BONDING AND TRUST CO. OF BALTIMORE CITY. 235 

Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate, $20,000 00 

Cost value of stocks and bonds owned (schedule A), . 585,445 12 

Cash in company's office, 2,050 32 

Cash deposited in bank, 26,113 52 

Bills receivable 623 97 

Accounts receivable, 9,110 61 

Total, $643,343 54 

Other Assets. 

Interest accrued, 8,744 22 

Market value of stocks and bonds over cost, .... 33,267 88 

Gross premiums in course of collection, 42,490 11 

Furniture and fixtures, 1 00 

Total assets, per company's books, f 727,846 75 

Items not admitted. 

Furniture and fixtures, $1 00 

Bills receivable, 623 97 

Accounts receivable, 9,110 61 

Total, 9,735 58 

Total admitted assets, $718,111 17 

Deduct special deposits in other States, 58,180 00 

Balance, $659,931 17 

Liabilities. 

Claims adjusted or in process, .... $4,087 46 

Unearned premiums on outstanding risks, . 114,589 47 

Commissions and brokerage, .... 6,458 64 

Collateral deposits, 28,061 71 

All other, 305 76 

Gross liabilities, except capital, . . $153,503 04 
Deduct liability on special deposits, . . 16,011 35 

137,491 69 

Surplus as regards policy holders, $522,439 48 

Paid-up capital, 500,000 00 

Surplus over capital, $22,439 48 



236 THE AMERICAN CREDIT INDEMNITY CO. OF NEW YORK. 

Risks and Premiums. 
Fidelity. 

Premiums. 

Risks outstanding Dec. 31, 1897, . . .$39,587,997 00 3146,240 60 



Risks written during 1898, 



. 49,603,031 00 226,899 07 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



Miscellaneous. 

Premiums received from organization of company, 
Claims paid from organization of company, . 
Claims incurred during the year, .... 
Company's stock owned by directors, 



.189,191,028 00 $ 373,130 
. 38,529,193 00 142,291 16 



. $50,661,835 00 f 230,848 51 
1,669 56 



$229,178 95 



$461,648 00 

104,838 00 

64,916 00 

112,200 00 



Schedule A. 



Bonds owned by the 



City of Baltimore stock, . 
City of Richmond, Va., bonds, . 
City of Cumberland, Md., bonds, 
City of Manchester, Va., bonds, 
Town of Snow Hill, Md., bonds, 
County of Norfolk, Va., bonds, 
Randolph-Macon College bonds, 
United States bonds, . 



Company. 

Cost Value. 

1278,170 50 

24,606 11 

9,200 67 

2,050 00 

20,108 20 

26,517 12 

20,000 00 

204,792 52 



Market Value. 

$300,083 00 

26,500 00 

9,000 00 

2,000 00 

20,700 00 

26,250 00 

20,000 00 

214,180 00 

$585,445 12 $618,713 00 



"THE AMERICAN CREDIT INDEMNITY COMPANY OF NEW 
YORK," NEW YORK, N. Y. 

[Incorporated April 28, 1893. Commenced business May 1, 1893.] 
Paid-up Capital, $200,000. 
S. M. Phelan, President. 

Income. 

Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total, 

Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 
Net cash premiums received, 



E. M. Tee at, Secretary. 

$49,440 00 
254,558 66 



$303,998 66 
38,170 00 

$265,828 66 
40,040 42 



8225,788 24 



THE AMERICAN CREDIT INDEMNITY CO. OF NEW YORK. 237 

Interest and dividends received from all sources, . . . $11,568 30 

Cash recovered on losses paid, 1,072 36 

Total income, $238,428 90 

Net or ledger assets Dec. 31, 1897, 357,303 47 

Total, $595,732 37 

Disbursements. 

Cash paid for matured claims, $54,407 27 

for salaries and expenses of officers and employees, 118,503 52 

for taxes and fees, 6,026 02 

for rent 3,115 40 

for legal expenses, 15,723 57 

for furniture and fixtures, 101 30 

for advertising and printing, 6,984 15 

for incidentals, 10,974 40 

Total disbursements, $215,835 63 

Balance $379,896 74 

Invested in the following : — 



Assets as per Ledger Accounts 

Cost value of United States bonds owned, 
Cash in company's office, .... 
Cash deposited in bank, .... 
Agents 1 debit balances, .... 
Notes taken for premiums, 



$213,875 00 

476 98 

142,240 33 

3,211 93 

20,092 50 



Total, $379,896 74 



Other Assets. 

Interest due and accrued, 

Gross premiums in course of collection, . 
Value of accounts purchased, . 

Total assets, per company's books, . 



$16,430 14 



1,000 00 
38,170 00 



. $419,066 74 



Items not admitted. 
Premiums in course of collection, . . . $28,627 50 

Agents 1 debit balances, 3,211 93 

Notes taken for premiums, .... 2,913 41 

Total, 34,752 84 



Total admitted assets, 



$384,313 90 



238 AMERICAN MUTUAL LIABILITY INS. CO. OF BOSTON. 



Liabilities. 
Claims disputed or resisted, 
Unearned premiums on outstanding risks, 
State and local taxes, 
Commissions and brokerage, . 

Gross liabilities, except capital, 

Surplus as regards policy holders, 
Paid-up capital, 



Surplus over capital, 



$46,000 00 

114,275 41 

300 00 

1,358 00 



$161,933 41 

$222,380 49 
200,000 00 

$22,380 49 



Risks and Premiums. 
Credit. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



Premiums. 

$244,920 56 
254,558 66 

$499,479 22 
242,300 89 

$5,957,533 00 $257,178 33 



$6,840,533 00 
5,814,533 00 

$12,655,066 00 
6,697,533 00 



Miscellaneous. 

Premiums received from organization of company, 
Claims paid from organization of company, . 
Claims incurred during the year, . 
Company's stock owned by directors, 



$1,074,979 00 

267,366 00 

54,407 00 

200,000 00 



AMERICAN MUTUAL LIABILITY INSURANCE COMPANY OF 

BOSTON. 

[Incorporated March 30, 1887. Commenced business Oct. 1, 1887.] 

William C. Lovering, President. Sydney A. Williams, Secretary. 

Principal Office, 40 Water Street. 

Income. 

Premiums outstanding Dec. 31, 1897, . . -.206 46 

Premiums on risks written or renewed, . . 202,108 89 



Total 

Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 

Net cash premiums received, 
Interest and dividends received from all 



Total income, 
Net or ledger assets Dec. 31, 1897, 

Total, 



$204,315 35 
1,871 39 

$202,443 96 
9,588 29 



sources, 



$192,855 67 
7,840 23 

$200,695 90 
233,171 84 

$433,867 74 



AMERICAN MUTUAL LIABILITY INS. CO. OF BOSTON. 239 



Disbursements. 

Cash paid for matured claims, 

policy holders for profits on terminated policies, . 
for salaries and expenses of officers and employees, 

for inspections, 

for taxes, fees and internal revenue, 

for rent, 

for profit and loss 

for incidentals, 

Total disbursements, 



$78,620 32 

54,142 94 

16,737 34 

3,900 04 

2,525 68 

1,172 50 

100 00 

4,350 15 

. $161,548 97 



Balance, $272,318 77 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost value of bonds owned, 

Cash in company's office, 

Cash deposited in bank, 

Suspense account, 



$250,242 50 

290 49 

21,735 78 

50 00 



Total, $272,318 77 



Other Assets. 

Interest due and accrued, .... 

Rents due, 

Market value of bonds over cost, 

Gross premiums in course of collection, . 

Total assets, per company's books, . 



3,009 


72 


60 


00 


9,700 


00 


1,871 


39 


$286,959 88 



Items not admitted. 



Suspense account, 



Total admitted assets, 



50 00 



. $286,909 88 



Liabilities. 

Claims adjusted or in process, . 
known or reported, 
disputed or resisted, 
Unearned premiums on outstanding risks, 

Incidentals, 

Gross liabilities, .... 



$2,000 00 

7,000 00 

32,000 00 

93,913 31 

387 00 



135,300 31 



Surplus as regards policy holders, . 



$151,609 57 



240 



AMERICAN SURETY CO. OF NEW YORK. 



Risks and Premiums. 
Employers' Liability. 

Premiums. 

Risks outstanding Dec. 31, 1897, $69,682,400 00 $175,925 61 $879,628 05 
Risks written during 1898, . 73,447,400 00 202,108 89 1,010,544 45 



Contingent 
Premiums. 



Total, §143,129,800 00 $378,034 50 $1,890,172 50 

Deduct risks expM and ternr*d, 69,804,900 00 190,207 87 951,039 35 



In force at end of year, . $73,324,900 00 $187,826 63 $939,133 15 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Profits or surplus returned during the year, 30 per cent. 



. $1,533,265 00 
624,983 00 



Schedule A. 
Bonds owned by the Company. 

Cost Value. 

Old Colony R.R. bonds, $20,837 50 

Boston & Lowell R.R. bonds, .... 20,305 00 

Phila., Wilmington & Baltimore R.R. bonds, . 10,100 00 

State of Massachusetts bonds, .... 169,075 00 

Boston Terminal bonds, 29,925 00 



Market Value. 

$22,275 00 
21,855 00 
11,000 00 

171,175 00 
33,637 50 



$250,242 50 $259,942 50 



"AMERICAN SURETY COMPANY OF NEW YORK," NEW 

YORK, N. Y. 

[Incorporated April 14, 1884. Commenced business April 15, 1884.] 

Paid-up Capital, $2,500,000. 

Walter S. Johnston, President. W. E. Keyes, Secretary. 



Income. 

Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total 

Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 
Net cash premiums received, . 



Fidelity and Surety. 

$153,908 04 
1,193,745 10 

$1,347,653 14 
171,956 78 

$1,175,696 36 
183,424 31 



$992,272 05 



AMERICAN SURETY CO. OF NEW YORK. 



241 



Interest received on mortgages, ...... $750 00 

Interest and dividends received from all other sources, . . 120,327 48 

Income from rents, 244,077 33 

Profit on securities sold, . 158 75 

Cash recovered on losses paid, 74,504 96 

Total income, 31,432,090 57 

Net or ledger assets Dec. 31, 1897, 5,174,374 88 

Total, $6,606,465 45 



$454,288 86 
82,861 26 



Disbursements. 

Cash paid for matured claims, .... 
Deduct salvage and reinsurance, 

Net cash paid for matured claims, . 

Cash dividends paid, 

Cash paid for commissions and brokerage, 

for salaries and expenses of officers and employees 

for furniture and fixtures, 

for inspections, . . . 

for taxes and fees, . 

for rent, 

for legal expenses, ... 

for real estate expenses, . 

for advertising and printing, . 

for interest, .... 

for borrowed money repaid, . 

for incidentals, .... 



Total disbursements, 



Balance, 



$371,427 60 
200,000 00 

50.912 07 
340,967 02 

11.913 95 
24,171 46 
75,394 10 
77,880 00 

7,401 32 

72,784 79 

17,273 62 

2,167 41 

327,650 57 

36,233 34 

$1,616,177 25 

$4,990,288 20 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate, $3,506,748 04 

Loans on mortgage of real estate (first liens), . . . 15,000 00 

Loans on collateral security (schedule A), . , . 93,196 70 

Cost value of stocks and bonds owned (schedule B), . . 1,194,819 10 

Cash in company's office, 1,326 24 

Cash deposited in bank, 193,153 60 

Total, $5,004,243 68 

Deduct borrowed money, 13,955 48 

Total net or ledger assets, as per balance, . . . $4,990,288 20 



242 



AMERICAN SURETY CO. OF NEW YORK. 



Other Assets. 

Interest due, t 

Rents due and accrued, .... 
Market value of stocks and bonds over cost, 
Gross premiums in course of collection, . 

Total assets, per company's books, . 



$13,938 00 

23,351 65 

112,569 15 

101,082 22 

$5,211,229 22 



Items not admitted and Depreciation. 
Depreciation from cost of assets, 267,119 40 

Total admitted assets, $1,971,109 82 

Deduct special deposits in other States, 140,011 50 

Balance, $1,831,065 32 



Liabilities. 

Claims adjusted or in process, . 
Claims disputed or resided, 
Unearned premiums on outstanding risks, 
Commissions and brokerage, . 

Gross liabilities, except capital, 
Deduct liability on special deposits, 

Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$58,567 50 

131,712 12 

615,125 06 

3,893 24 

f809,628 22 
65,453 47 



711,171 75 

. $1,089,890 57 
. 2,500,000 00 



$1,589,890 57 



Risks and Premiums. 
Fidelity and Surety. 

Premiums. 

Risks outstanding Dec. 31, 1897, . . $223,133,093 00 $1,200,521 03 



Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



. 296,617,126 00 1,193,715 10 



$519,750,219 00 $2,394,266 13 
.253,103,882 00 1,217,052 32 



$266,616,337 00 $1,177,213 81 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$8,828,266 00 

3,518,269 00 

1,500,000 00 

318,913 00 

1,038,450 00 






AMERICAN SURETY CO. OF NEW YORK. 



243 



Schedule A. 
Securities held as Collateral. 



247 shares Bohn Manufacturing Co., St. Paul, 
Lonsdale-Beaumont Water Co. bonds, 
100 shares Atlantic City Sewerage Co., 
Personal bond of $160,000, 
1,000 shares Detroit City Gas Co., . 
Central N. Y. & Western R.R. bonds, 
Mortgage of $100,000, 
Certificate of deposit, $525, 



Market Value. 

$12,350 00 
27,000 00 



Amount Loaned. 

$ 12,350 00 
18,961 80 

15,500 00 



31,500 00 
14,300 00 { 



: j 



} 46,384 90 



$85,150 00 $93,196 70 



Schedule B. 

Stocks and Bonds owned by the Company. 

Cost Value. Market Value. 

300 shares Delaware & Hudson Canal Co., . $39,937 50 $32,250 00 

393 " Mechanics' National Bank, . . 18,755 00 17,685 00 

2,570 " The State Trust Co., . . . 406,582 50 514,000 00 

100 " Lawyers' Mortgage Tnsur. Co., . 12,500 00 12,500 00 

100 " Maryland Trust Co., . . . 10,000 00 24,000 00 

2,565 " Louisv., Henderson & St. L. R.R , 26,100 00 26,100 00 

2,000 " New York City Consolidated, . 200,375 00 200,375 00 

20 " Philadelphia Bourse, . . . 1,000 00 1,000 00 

United States bonds, 240,468 75 223,750 00 

Missouri, Kansas & Texas R.R. bonds, . . 27,606 25 31,981 25 

State of Virginia bonds, 25,030 00 31,540 00 

State of Georgia bonds, 58,261 25 59,000 00 

State of Tennessee bonds, .... 25,711 25 29,475 00 

Texas & Pacific R.R. bonds, .... 23,725 00 27,500 00 

Interior redeemable bonds, .... 53,766 60 51,982 00 

New Orleans & Western R.R. receivers' cert's, 25,000 00 24,250 00 



$1,194,819 10 $1,307,388 25 



244 CENTRAL ACCIDENT INSURANCE CO. 



"CENTRAL ACCIDENT INSURANCE COMPANY," PITTSBURG, PA. 

[Incorporated Jan. 13, 1895. Commenced business March 30, 1895.] 
Paid-up Capital, $100,000. 

William H. Graham, President. Ralph Butler, Secretary. 

Income. 

Accident. Plate Glass. 

Prem's outst'd'g Dec. 31, 1897, . $31,577 49 82,550 08 

Prem'i on risks written or ren'd, 115,458 52 25,341 44 

Total, $147,036 01 $27,891 52 

Cancelled, 17,013 01 

Balance, .... $130,023 00 
Prem's now in course of coll'n, . 30,217 12 2,335 50 

Entire premiums collected, $99,805 88 $25,556 02 
Less reinsur. and return prem's, 3,552 12 939 76 

Net cash premiums rec'd, . $96,253 76 $24,616 26 

$120,870 02 

Interest and dividends received from all sources, . . . 13,139 13 

Income from rents, 110 00 

Total income, $134,119 15 

Net or ledger assets Dec. 81, 1897, 217,620 17 

Total, $351,739 32 

Disbursements. 

Cash paid for matured claims (accident), . f 23,763 27 
Deduct salvage and reinsurance, . . . 319 29 

Net cash paid for matured accident claims, $23,443 98 

Cash paid for matured plate-glass claims, .... 8,530 11 

Cash dividends paid, 10,000 00 

Cash paid for commissions and brokerage, .... 35,955 80 

for salaries and expenses of officers and employees, 30,372 96 

for medical examiner's fees, 290 00 

for taxes, fees and internal revenue, . . . 4,153 13 

for rent, 2,261 14 

for legal expenses, ....... 24 40 

for real estate expenses, 26 00 

for furniture and fixtures, 66 51 

for advertising and printing, 4,715 53 

for incidentals, 2,463 37 

Total disbursements, $122,302 93 

Balance, $229,436 39 



CENTKAL ACCIDENT INSURANCE CO. 



245 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost value of real estate, 

Loans on mortgage of real estate (first liens), 

Cost value of stocks and bonds owned (schedule A), 

Cash in company's office, 

Cash deposited in bank, ..... 
Agents' debit balances, 



Total, 

Deduct agents' credit balances, 

Total net or ledger assets, as per balance, 



$2,391 50 

142,450 00 

44,161 66 

2,058 85 
35,166 96 

4,012 16 

$230,241 13 
804 74 

$229,436 39 



Other Assets, 
Interest due and accrued, .... 

Rents due, 

Market value of real estate over cost, 
Market value of stocks and bonds over cost, 
Gross premiums in course of collection, . 
Office furniture, etc., .... 



Total assets, per company's books, . 



2,158 41 


30 00 


1,208 50 


4,278 34 


32,552 62 


2,000 00 


$271,664 26 



Items not admitted. 



Office furniture, etc., . 
Agents' debit balances, 
Total, . 



$2,000 00 
4,012 16 



6,012 16 



Total admitted assets, 



$265,652 10 



Liabilities. 

Claims adjusted or in process, .... $3,100 00 

Claims disputed or resisted, .... 200 00 

Unearned premiums on outstanding risks, . 54,697 18 

Return premiums and reinsurance, . . . 280 00 

Commissions and brokerage, .... 9,765 79 

Miscellaneous, 175 00 

Gross liabilities, except capital, 

Surplus as regards policy holders, 
Paid-up capital, .... 



68,217 97 

$197,434 13 
100,000 00 



Surplus over capital, $97,434 13 



246 



CENTRAL ACCIDENT INSURANCE CO. 



Risks and Premiums. 

Accident. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



. $26,634,750 00 
. 46,083,000 00 



Premiums. 

$63,891 93 
115,458 52 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



$72,717,750 00 $179,350 45 
37,087,000 00 92,668 45 



$35,630,750 00 $86,682 00 
960,000 00 2,390 00 



. $34,670,750 00 $84,292 00 



Plate Glass. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 



$21,210 07 
25,341 44 

$46,551 51 
21,449 14 



In force at end of year, $25,102 37 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$261,102 00 
52,653 00 
24,000 00 
31,984 00 
36,200 00 



Keeling Coal Co. bonds, . 
United Traction R.R. bonds, 
Chartier's Township school bonds, . 
Homestead & Pittsburg Bridge bonds, 
13th Ward school bonds, . 
Federal Street & P. V. R.R. bonds, . 



Schedule A. 
Bonds owned by the Company. 

Cost Value. 

$10,000 00 



14,991 66 
5,050 00 

10,000 00 
2,000 00 
2,120 00 



Market Value. 
$11,000 00 

16,500 00 
5,750 00 

11,000 00 
2,050 00 
2,140 00 



$44,161 66 $48,440 00 



THE CITY TKUST SAFE DEPOSIT AND SURETY CO. OF PHIL A. 247 



"THE CITY TRUST SAFE DEPOSIT AND SURETY COMPANY 
OF PHILADELPHIA," PHILADELPHIA, PA. 

[Incorporated June 4, 1886. Commenced business June 4, 1886.] 
Paid-itp Capital, $500,000.* 



Charles M. Swain, President. 



Income. 



Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 

Total, 

Premiums now in course of collection, 



James F. Lynd, Secretary. 



Fidelity and Surety. 

$22,960 20 
207,644 39 



$230,604 59 
31,150 42 



Entire premiums collected, . . . $199,454 17 
Less reinsurance and return premiums, . . 22,677 44 

Net cash premiums received, . . . $176,776 73 

Interest received on mortgages, 8,633 62 

Interest and dividends received from all other sources, . . 10,625 50 

Cash recovered on losses paid, 5,073 31 

Total income, $201,109 16 

Net or ledger assets Dec. 31, 1897, . . . $481,377 63 
Increase of deposits for benefit of surety policy 

holders, 52,500 00 

533,877 63 



Disbursements. 
Cash paid for matured claims, .... $75,717 92 
Deduct salvage and reinsurance, . . . 20,416 63 

Net cash paid for matured claims, . . 

Cash dividends paid,* 

Cash paid for commissions and brokerage, 

for salaries and expenses of officers and employees 
for taxes and fees, .... 
for legal expenses, .... 
for advertising and printing, . 
• for miscellaneous, .... 



$734,986 79 



Total disbursements, . 
Balance, 




$55,301 29 
15,000 00 
8,957 30 
94,003 38 
6,129 39 
6,507 25 
6,529 77 
5,288 91 

$197,717 29 

$537,269 50 



* The capital of this company is $500,000; besides this, the company has on deposit, solely for 
the protection of its surety policy holders, with the Insurance Commissioner for the State of 
Pennsylvania, securities of the market value of $216,006. 

This company is doing in Pennsylvania a safe deposit and trust business as well as a surety 
business, and its assets, except the special deposit above referred to, are held equally liable for 
all its liabilities. 



248 THE CITY TRUST SAFE DEPOSIT AND SURETY CO. OF PIJILA. 

Invested in the following : — 

Assets as pek Ledger Accounts. 

Loans on mortgage of real estate (first liens), . . . $53,500 00 

Cost value of bonds owned (schedule A), .... 215,77750 

Cash in company's office, j 84 

Cash deposited in bank, 88,125 86 

Due from trust department for premiums collected, . . 179,085 30 

Total, 1537,269 50 

Other Assets. 

Gross premiums in course of collection, 31,150 42 

Total assets, per company's books, $568,419 92 

Items not admitted and Depreciation. 

Depreciation from cost of assets, -. 797 50 

Total admitted assets, $567,622 42 



Liabilities. 

Claims adjusted or in process, . 
known or reported, 
disputed or resisted, 

Total amount of claims, 
Less reinsurance, 

Net amount of unpaid claims, 
Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc., 

Reinsurance, 

Commissions and brokerage, . 

Gross liabilities, except capital, 

Surplus as regards surety policy holders, 



$2,830 45 

1,010 19 

21,091 20 

$24,931 84 
2,795 60 

£22,136 24 

112,053 60 

1,000 00 

6,097 16 

204 97 



141,491 97 
£426,130 45 



Risks and Premiums. 
Fidelity and Surety. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



Premiums. 

. $60,330,749 00 $272,158 20 
. 34,223,738 00 207,644 39 



. $94,554,487 00 $479,8 

. 38,360,610 00 222,743 22 



. $56,193,877 00 $257,059 37 
. 2,302,504 00 16,688 92 



.$53,891,373 00 $240,370 45 



conveyancers' TITLE INSURANCE CO. OF BOSTON. 249 



Miscellaneous. 

Fidelity and Surety. 
Premiums received from organization of company, 
Claims paid from organization of company, . 
Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, . 



$1,182,303 00 

187,345 00 

180,000 00 

60,658 00 

161,400 00 



Schedule A. 
Bonds owned by the Company. 



City of Pittsburg bonds, . 

City of Erie bonds, .... 

Borough of South Chester bonds, . 

City of Williamsport bonds, 

County of Allegheny bonds, 

City of Allegheny bonds, . 

Borough of South Bethlehem bonds, 

Philadelphia & Erie R.R. bonds, 

Lehigh Coal & Navigation Co. bonds, 

City of Philadelphia bonds, 

Pittsburg, Cincinnati & St. Louis R.R. bonds, 

Edison Electric Light Co. bonds, 



Cost Value. 

$20,700 00 
13,455 00 
16,320 00 

9,300 00 
21,525 00 

1,027 50 
17,340 00 

8,102 50 

6,562 50 
59,850 00 
16,435 00 
25,160 00 



Market Value. 

$20,460 00 
13,420 00 
16,320 00 

9,090 00 
20,990 00 

1,030 00 
17,340 00 

8,330 00 

6,250 00 
59,850 00 
16,050 00 
25,850 00 



$215,777 50 $214,980 00 



CONVEYANCERS' TITLE INSURANCE COMPANY OF BOSTON. 

[Incorporated Jan. 31, 1889. Commenced business March 18, 1889.] 

Paid-up Capital, $200,000. 

Frederick C. Bowditch, President. James R. Carret, Secretary. 

Henry H. Edes, Treasurer and Manager. 

Office, 28 State Street. 

Detailed Statement of Stocks. 



100 shares Third National Bank, 



Par Value. 

$10,000 00 



Market Value. 

$9,212 50 



Summary of Assets Dec. 31, 1898. 
Loans on mortgage of real estate, . . . $232,600 00 



Interest accrued thereon, . 
Stocks as per schedule, 
Cash in the office of the company, 
Cash deposited in bank, . 
Gross assets, 



1,335 16 

9,212 50 

590 54 

56,122 23 



$299,860 43 



Liabilities. 
Notes payable, $50,000 00 



250 conveyancers' TITLE INSURANCE CO. OF BOSTON. 



Income. 

Received from premiums, , 

from searches, .... 
from commissions, 

Interest and dividends from all sources, . 
Gross cash income, .... 

Expenditures. 

Cash dividends paid, 

Cash paid for salaries 

for counsel fees, 
for commissions and brokerage, 
for advertising, 

for office rent, .... 
for general expenses and incidentals 
Gross cash expenditures, . 



Miscellaneous. 
Amount of policies issued during the year, 
Amount of mortgages bought during the year, 
Amount of mortgages sold during the year, 
Capital stock, at par, owned by directors (28 per cent.), 



$2,928 50 
7,389 35 
6,710 39 

17,460 54 



$8,000 00 

14,679 50 

3,323 50 

468 83 

135 50 

1,425 00 

3,600 97 



$34,488 78 



$31,633 30 



$958,125 00 

1,350,955 00 

1,249,850 00 

56,000 00 



UNITED STATES BRANCH OF "THE EMPLOYERS' LIABILITY 
ASSURANCE CORPORATION, LIMITED," LONDON, ENG. 

Deposit Capital, $200,000. 

S. Stanley Brown, Attorney. 
Office, 71 Kilby Street, Boston. 



Income. 

Ace. and Emp. Liab. 

Prem's outst'd'g Dec. 31, 1897, . $277,490 32 
Prem's on risks written or ren'd, 1,253,031 89 



Total, $1,530,522 21 

Prem's now in course of coll'n, 251,053 86 



Entire premiums collected, f 1,279,468 35 
Less reinsur. and return prem's, 190,553 94 



Fidelity. 

$4,401 33 
30,790 47 

$35,191 80 
3,548 21 

$31,643 59 
6,061 84 



Net cash prem's received, . $1,088,914 41 $25,58175 



Interest and dividends received from all sources, . 



$1,114,496 16 
63,834 68 



Total income, $1,178,330 84 

Net or ledger assets Dec. 31, 1897, 923,333 25 



Total, $2,101,664 09 



THE EMPLOYERS' LIABILITY ASSURANCE CORPORATION, LTD. 251 



Disbursements. 

Ace. and Emp. Liab. Fidelity. 

Cash paid for matured claims, . $488,742 22 $10,57184 

$499,314 06 

Cost of adjustment and legal expenses, 115,643 89 

Cash paid for commissions and brokerage, .... 266,157 86 

for salaries and expenses of officers and employees, 55,908 98 

for inspections, 18,516 35 

for taxes, fees and internal revenue, . . . 31,385 16 

for rent, 20,497 02 

for legal expenses, 7,213 26 

for advertising and printing, 18,600 40 

for furniture and fixtures, 2,640 69 

for incidentals, 11,619 63 

Remitted to home office, 81,753 88 

Total disbursements, $1,129,251 18 

Balance, $972,412 91 

Invested in the following : — 

Assets as per Ledger Accounts. 

Market value of stocks and bonds owned (schedule A), . $961,600 00 

Cash in company's office, . . . . • . . . . 800 00 

deposited in bank, . 846 20 

deposited with trustees, 9,166 71 

Total, $972,412 91 

Other Assets. 

Interest due and accrued, 7,059 17 

Gross premiums in course of collection, 246,656 09 



Total assets, per company's books, $1,226,128 17 

Items not admitted. 
Cash not in control of trustees, 1,646 20 



Total admitted assets, $1,224,481 97 

Deduct special deposits in other States, 69,750 00 



Balance, $1,154,731 97 

Liabilities. 

Claims adjusted or in process, .... $51,480 00 
Claims disputed or resisted, .... 247,260 00 



252 THE employers' liability ASSURANCE CORPORATION, ltd. 



Unearned premiums on outstanding risks, 
Commissions and brokerage, . 

Gross liabilities, except capital, 
Deduct liability on special deposits, 

Surplus as regards policy holders, 
Deposit capital, .... 



Surplus over capital, 



$478,202 43 

57,963 16 

$834,905 59 

55,748 85 



$779,156 74 

$876,675 23 

200,000 00 

$175,575 23 



Risks and Premiums. 
Accident and Employers'* Liability. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 

Total 

Deduct risks expired and terminated, 



In force at end of year, 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Fidelity. 



Premiums. 

$209,936,713 00 $933,052 
281,932,176 00 1,253,031 



$491,868,889 00 $2,186,083 95 
280,381,580 00 1,246,140 36 



$211,487,309 00 $939,943 59 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



Miscellaneous 
Claims incurred during the year, 



$5,938,920 00 
6,927,855 00 

£12,866,775 00 
7,311,905 00 



$26,395 20 
30,790 47 

$57,185 67 
32,497 36 



£5,554,870 00 £24,688 31 



$673,724 00 



Schedule A. 
Bonds owned by the Company. 



Atchison R.R. bonds, 

Baltimore & Ohio R.R. bonds, 

Boston & Maine R.R. bonds, 

City of Buffalo bonds, 

City of Los Angeles bonds, 

City of Lynn bonds, . 

City of Portland, Ore., bonds, 

City of Providence bonds, 

City of Springfield bonds, 

Dexter & Piscataquis R.R. bonds, 

Eastern R R. bonds, . 

Fort St. Un. Dep. Co., Detroit, bonds, 

Lowell, Lawrence & Haverhill St. R.R. bonds, 



ilne. 

,477 50 

28,015 00 

15,750 00 

52,000 00 

25,961 25 

54,562 50 

67,350 00 

4,290 00 

5,093 75 

35,525 00 

6,062 50 

25,500 00 

20,600 00 



Market Value. 

$22,320 00 

30,160 00 

18,900 00 

51,250 00 

26,000 00 

55,000 00 

69,000 00 

4,600 00 

5,700 00 

37,100 00 

5,950 00 

26,250 00 

21,000 00 



THE FIDELITY AND CASUALTY CO. OF NEW YORK. 



253 



N. Y. Central & Hudson River R.R. bonds, 

New York Central R R. bonds, 

Pennsylvania R.R. bonds, .... 

Phila., Wilmington & Baltimore R.R. bonds, 

Portland & Rnmford Falls R.R. bonds, . 

State of Massachusetts bonds, 

Town of Andover bonds, . 

Town of Canton bonds, 

United States bonds, 

West End Street R.R. bonds, 



Cost Value. 

$25,780 00 
19,300 00 
.5,600 00 
50,375 00 
24,750 00 
36,120 00 
66,150 00 
5,450 00 

329,234 37 
52,000 00 



Market Value. 

$ 27,250 00 
19,900 00 
6,250 00 
55,000 00 
26,500 00 
36,270 00 
63,600 00 
5,350 00 

295,750 00 
52,500 00 



$971,946 87 $961,600 00 



"THE FIDELITY AND CASUALTY COMPANY OF NEW YORK," 

NEW YORK, N. Y. 

[Incorporated March 20, 1876. Commenced business May 1, 1876.] 
Paid-up Capital, $250,000. 

George F. Seward, President. Robert J. Hillas, Secretary. 

Income. 

Cash rec'd for ace. and emp. liab. risks, . . $3,033,774 51 

Deduct reinsurance and return premiums, . 675,029 32 

Net cash ree'd for ace. and emp. liab. risks, $2,358,745 19 

Cash received for burglary risks, . . . $290,160 21 

Deduct reinsurance and return premiums, . 70,246 50 

Net cash received for burglary risks, . 219,913 71 

Cash received for fidelity risks, . . . $242,593 23 

Deduct reinsurance and return premiums, . 74,813 57 

Net cash received for fidelity risks, . . 167,779 66 

Cash received for plate-glass risks, . . . $248,317 46 

Deduct reinsurance and return premiums, . 44,247 46 

Net cash received for plate-glass risks, . 204,070 00 

Cash received for steam-boiler risks, . .* $355,720 42 

Deduct reinsurance and return premiums, . 96,883 38 

Net cash received for steam-boiler risks, . 258,837 04 



Total net cash premiums received, $3,209,345 60 

Interest and dividends received from all sources, . . . 80,092 74 

Income from rents, ......... 56,053 58 

Profit on securities sold, ..,,,,.. 10,787 50 

Total income, $3,356,279 42 

Net or ledger assets Dec. 31, 1897, 2,310,867 29 

Total, $5,667,146 71 



254 THE FIDELITY AND CASUALTY CO. OF NEW YORK. 



Disbursements 

Cash paid for ace. and emp. liab. claims, 
Deduct rebate and reinsurance, 

Net cash pd for ace. and emp. liab claims 
Cash paid for burglary claims, 
Deduct amount recovered, 

Net cash paid for burglary claims, 
Cash paid for fidelity claims, . 
Deduct amount recovered, 

Net cash paid for fidelity claims, 
Cash paid for plate-glass claims, 
Deduct salvage and reinsurance, 

Net cash paid for plate-glass claims 
Cash paid for steam-boiler claims, . 
Deduct salvage and reinsurance, 

Net cash paid for steam-boiler claims, 

Net cash paid for matured claims, . 
Cost of adjustment and legal expenses, . 
Cash dividends paid, .... 

Cash paid for commissions and brokerage, 

for salaries and expenses of officers 

for inspections, 

for taxes, fees, etc., . 

for rent, 

for furniture and fixtures, 

for real estate expenses, . 

for advertising and printing, . 

for loss on securities sold, 

for incidentals, .... 



Total disbursements, 



Balance, 



51,059,821 84 
6,222 18 

$80,637 71 
7.36 25 

556,448 05 
22,741 09 

$77,997 69 
7,102 44 

546,674 30 
9,753 43 



and employees 



51,053,599 66 
79,881 46 
33,706 96 
70,895 25 

36,920 87 

51,275,004 20 

267,268 49 

50,000 00 

840,150 34 

336,364 54 

115,981 70 

58,991 82 

49,051 35 

4,601 12 

20,009 68 

37,723 02 

656 88 

44,449 02 

53,100,252 16 

52,566,894 55 



Invested in the following : — 



Assets as per Ledger Accounts. 

Cost value of real estate, 5570,832 07 

Cost value of stocks and bonds owned (schedule A), . 1,888,120 53 

Cash in company's office, . . . • 34,141 76 

Cash deposited in bank, 41,976 53 

Bills receivable, 5,552 88 

Agents 1 debit balances, 26,270 78 

Total, $2,566,894 55 



THE FIDELITY AND CASUALTY CO. OF NEW YORK. 255 



Other Assets. 



Interest accrued, 

Rents accrued, 

Market value of stocks and bonds over cost, 
Reserve reinsurance deposit, . 



( Accident and employers 1 liability, 

Premiums in course of J ° . ^' ' 

collection (gross), . 1 , " 

v& J I Plate glass, 

^ Steam boiler, . 
Total assets, per company's books, . 



$2,016 67 

2,059 10 

160,255 72 

19,268 91 

426,138 28 

24,234 17 

7,664 47 

19,643 80 

51,996 10 

. $3,280,171 77 



Items not admitted. 



Agents 1 debit balances, 
Bills receivable, 
Total, . 



$26,270 78 
5,552 88 



Total admitted assets, 
Deduct special deposits in other States, . 



31,823 66 

$3,248,348 11 
44,680 00 



Balance, $3,203,668 11 



Liabilities. 

Claims adjusted or in process, . 

known or reported, 

disputed or resisted, 

f Ace. and emp. liab., 

T r I Burglary, . 

Unearned premiums on « p . , y t 

outstanding risks, . pJJ,'^ \ 

^ Steam boiler, . 
Due and accrued for rent, salaries, etc., . 
Commissions and brokerage, . . . 

Gross liabilities, except capital, 
Deduct liability on special deposits, . 



$141,423 52 
29,052 86 

393,297 85 
1,125,414 49 

111,472 74 
88,118 60 
93,163 79 

249,398 90 
48,098 90 

138,616 43 

$2,418,058 08 
44,680 00 



2,373,378 08 



Surplus as regards policy holders, $830,290 03 

Paid-up capital 250,000 00 



Surplus over capital,. 



$580,290 03 



256 THE FIDELITY AND CASUALTY CO. OF NEW YORK. 



Risks and Premiums. 

Accident and Employers' Liability. 

Risks outstanding Dec. 31, 1897, 
Risks written during 1898, . 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, . 

Net amount in force, . 



Premium!. 

$444,128,109 00 $2,040,792 01 
651,381,983 00 3,061,175 52 



$1,095,510,092 00 $5,101,967 53 
629,649,437 00 2,855,660 24 



$465,860,655 00 $2,246,307 29 
55,000 00 296 46 



$465,805,655 00 $2,246,010 83 



Burglary. 



Risks outstanding Dec 31, 1897, 
Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 

In force at end of year, 



.$27,553,569 00 $197,605 81 
. 32,803,824 00 ,000 52 



. $60,357,393 00 $480,606 33 
. 33,854,615 00 257,442 48 



. $26,502,778 00 $223,163 85 



Fidelity, 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



. $41,137,225 00 $232,603 58 
. 57,239,367 00 241,417 93 



.$98,376,592 00 $474,021 51 
. 57,296,104 00 297,994 56 



. $41,080,488 00 $176,026 95 
190,000 00 789 00 



. $40,890,488 00 $175,237 95 



Plate Glass. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 



. $9,868,432 00 $244,951 56 
. 10,681,021 00 224,047 26 



. $20,549,453 00 $468,998 82 
. 11,545,600 00 282,746 78 



. $9,003,853 00 $186,252 04 
10,297 00 165 43 



Net amount in force, . 



. $8,993,556 00 $186,086 61 



THE FIDELITY AND CASUALTY CO. OF NEW YORK. 



257 



Steam Boiler. 

Premiums. 

Risks outstanding Dec. 31, 1897, . . . $99,145,659 00 . $442,685 32 
Risks written during 1898, .... 92,575,408 00 357,207 78 



Total 

Deduct risks expired and terminated, 

In force at end of year, 



$191,721,067 00 $799,893 10 
. 86,634,689 00 316,788 43 



$105,086,378 00 $483,104 67 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$26,206,623 00 
. 9,969,836 00 

457,500 00 
. 1,275,004 00 

166,600 00 



Schedule A. 

Stocks and Bonds owned by the Company. 

Cost Value. Market Value. 

City of Richmond, Va., bonds, .... $12,600 00 $12,500 00 

200 shares Chicago & Alton Railway, . . 27,468 75 33,900 00 

500 " Chic. & Eastern Illinois R.R., . 51,200 00 50,250 00 

1,000 " Chicago & North Western R'y Co., 129,900 00 145,000 00 

500 " Chicago, Mil. & St. Paul Railway, 64,962 50 80,000 00 

500 " Chic, St. P., Min. & Omaha R.R., 70,150 00 80,000 00 

250 " Cleve., Cinn., Chic. & St. L. R.R., 24,100 00 23,750 00 

Consolidated stock of the city of New York, . 206,000 00 197,000 00 

200 shares Consolidated Gas Co. of N. Y., . 22,050 00 38,000 00 

200 " Delaware & Hudson Canal Co., . 26,700 00 20,000 00 

400 " Lake Shore & Mich. South'n R.R., 52,450 00 78,800 00 

300 " Manhattan Railway, . . . 37,250 00 29,100 00 

517 " Morris & Essex Ext. R.R., . . 49,622 50 51,700 00 

350 " N. Y., Lack. & Western R.R., . 31,950 00 42,000 00 

1,000 " Pennsylvania R.R 53,887 50 60,000 00 

1,000 " Pitts., McKees. & Youg. R.R., . 60,875 00 65,000 00 

300 " Rome, Watertown & Ogden. R.R., 33,050 00 36,000 00 

325 " Standard Gas Light Co., N. Y., . 36,975 00 48,400 00 

300 " St. Paul & Duluth R.R., . . 30,600 00 29,400 00 

500 " St. Paul, Minn. & Manitoba R.R., 56,687 50 86,500 00 

200 " United New Jersey R.R. & C. Co., 45,243 75 50,000 00 

300 " Western Union Telegraph Co., . 25,025 00 27,000 00 

220 " Chic, R. I. & Pacific R.R., . . 18,575 00 22,000 00 

100 " Morris & Essex R.R., . . . 8,550 00 8,750 00 

Atch., Top. & Santa Fe Railway bonds, . . 66,668 75 70,000 00 

Brooklyn & Montauk R.R. bonds, . . . 27,434 00 25,750 00 

Canada Southern Railway bonds, . . . 26,445 00 27,625 00 

Central Ohio R.R. bonds 25,000 00 27,125 00 



258 



FIDELITY AND DEPOSIT CO. OF MARYLAND. 



Central Railroad of New Jersey bonds, 

Chesapeake & Ohio R'y bonds, 

Chicago, Rock Island & Pacific R.R. bonds, 

Cinn., Ind., St. L. & Chic. R'y bonds, 

King's Co. Elevated R'y bonds, 

Lake Erie & Western R R. bonds, 

Pitts., Clev. & Toledo R.R. bonds, 

State of Indiana bouds, . 

United States bonds, 

Wabash R.R. bonds, . 

Western Union Telegraph Co. bonds, 

Union Pacific R.R. bonds, 

Erie R.R. bonds, 

Iowa Central R'y Co. bonds, . 



Cost Value. 

$25,625 00 
17,000 00 

104,875 00 
23,625 00 
10,000 00 
25,996 53 
22,050 00 
50,750 00 

100,768 75 
25,500 00 
25,000 00 
70,425 00 
45,825 00 
19,260 00 



Market Value. 

$28,875 00 
21,450 00 

106,500 00 
25,437 50 
7,000 00 
29,875 00 
22,680 00 
50,000 00 
94,881 25 
28,312 50 
28,375 00 
73,675 00- 
47,000 00 
18,765 00 



$1,888,120 53 $2,048,376 25> 



"FIDELITY AND DEPOSIT COMPANY OF MARYLAND," 

BALTIMORE, MD. 

[Incorporated February, 1890. Commenced business June, 1890.] 
Paid-up Capital, $1,000,000. 

Edwin Warfield, President. Herman E. Bosler, Secretary. 

Income. 

Fidelity and Surety. 

Premiums outstanding Dec. 31, 1897, . . $126,420 96 
Premiums on risks written or renewed, . . 858,975 71 



Total, $985,396 67 

Premiums now in course of collection, . . 144,194 70 



Entire premiums collected, . . . $841,201 97 
Less reinsurance and return premiums, . . 22,078 40 

Net cash premiums received, . . . $819,123 57 

Interest and dividends received from all sources, . . . 65,616 50 

Income from rents, 38,657 48- 

Received from all. other sources, viz.: safe deposit depart- 
ment for commissions, 52,235 95 

Total income, $975,633 50 

Net or ledger assets Dec. 31, 1897, 2,381,977 38 

Total, $3,357,610 88 



Disbursements. 

Cash paid for matured claims, .... 
Deduct salvage and reinsurance, 

Net cash paid for matured claims, . 



$325,993 16 
47,151 27 



$278,841 89- 



FIDELITY AND DEPOSIT CO. OF MARYLAND. 



259 



Cash dividends paid, 

Cash paid for commissions and brokerage, 

for salaries and expenses of officers and employees 

for inspections and auditing, .... 

for taxes and fees, 

for rent, 

for legal expenses, 

for real estate expenses, 

for furniture and fixtures, .... 

for advertising and printing, .... 

for marked off from market value of securities to 
bring same to cost, 

for incidentals, 

Total disbursements, 

Balance, 



$100,000 00 

189,893 88 

71,031 29 

20,910 46 

42,106 84 

7,800 00 

10,999 68 

8,955 14 

7,381 82 

23,358 96 

64,147 00 
65,703 65 

$891,130 61 

$2,466,480 27 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate, 

Cost value of stocks and bonds owned (schedule A), 
Cash in company's office, 



. $600,000 00 
. 1,720,009 82 
5,320 25 
Cash deposited in bank, . . 141,150 20 

Total, $2,466,480 27 



Other Assets. 

Market value of stocks and bonds, over cost, . 
Gross premiums in course of collection, . 

Total assets, per company's books, . 

Items not admitted. 

Deduct special deposits in other States, . 

Balance, 



81,557 18 
144,194 70 

$2,692,232 15 



172,750 00 
$2,519,482 15 



Liabilities. 
Claims adjusted or in process, . 
Claims known or reported, 
Unearned premiums on outstanding risks, 
Commissions and brokerage, . 

Gross liabilities, except capital, 
Deduct liability on special deposits, 

Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$9,604 80 

31,748 72 

485,798 55 

30,941 40 

$558,093 47 
54,711 19 



503,382 28 

$2,016,099 87 

1,000,000 00 

$1,016,099 87 



260 



FIDELITY AND DEPOSIT CO. OF MARYLAND. 



Risks and Premiums. 
Fidelity and Surety. 

Premiums. 

Risks outstanding Dec. 31, 1897, . . 1141,087,394 00 |882,020 06 
Risks written during 1898, . . . 168,144,600 00 858,975 71 



Total 

Deduct risks expired and terminated, 

In force at end of year, 



$309,231,994 00 $1,740,995 77 
152,689,224 00 769,398 67 



? 156,542,770 00 $971,597 10 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



S3,139,503 00 
658,213 00 
260,000 00 
220,852 00 
372,500 00 



Schedule A. 
Bonds owned by the Company. 



Baltimore city bonds, 
New York city dock bonds, 
State of Maryland bonds, 
State of Georgia bonds, . 
State of Tennessee bonds, 
City of Buffalo, X. Y., bonds, . 
City of Westminster, Md., bonds, 
City of Frederick, Md., bonds, . 
City of Petersburg, Va , bonds, 
City of Richmond, Va., bonds, . 
City of Rockville, Md., bonds, . 
Lucas Co., Ohio, court house bonds, 
Baltimore Traction R.R. bonds, 
City & Suburban Railway Co. bond: 
Virginia Midland R.R. bonds, . 
Charlotte, Columbia & Augusta R R 
Petersburg R.R. bonds, 
Georgia Pacific R.R. bonds, 
Raleigh & Gaston R.R. bonds, . 
Wilmington & Weldon R.R. bonds, 
Ohio & Mississippi R.R. bonds, 



bonds, 



Cost Value. 

$649,953 82 
217,750 00 
102,060 00 
140,468 75 
26,250 00 
51,750 00 
25,156 25 
21,403 00 
26,835 00 
25,000 00 
10,500 00 
30,750 00 
109,240 00 
42,893 00 
48,130 00 
27,500 00 
10,700 00 
12,045 00 
30,000 00 
59,125 00 
52,500 00 



Market Value. 

$690,197 00 
218,000 00 
105,000 00 
139,750 00 
27,900 00 
51,500 00 
25,000 00 
41,080 00 
26,500 00 
26,000 00 
10,500 00 
30,000 00 
116,000 00 
54,720 00 
47,420 00 
^7,250 00 
11,500 00 
13,200 00 
31,800 00 
56,750 00 
51,500 00 



$1,720,009 82 $1,801,567 00 



FRANKFORT AMERICAN INSURANCE CO. 261 



"FRANKFORT AMERICAN INSURANCE COMPANY" OF NEW 

YORK, N. Y. 

[Incorporated March 22, 1898. Commenced business Aug. 15, 1898.] 

Paid-up Capital, $300,000. 

Paul Dumcke, President. Gordon Macdonald, Secretary. 

Income. 

Cash received for ace. and erap. liab. risks, 
Deduct reinsurance and return premiums, 

Net cash recM for ace. and emp. liab. risks, 
Cash received for plate-glass risks, . 
Deduct reinsurance and return premiums, 

Net cash received for plate-glass risks, . 
Cash received for steam-boiler risks, 
Deduct reinsurance and return premiums, 

Net cash received for steam-boiler risks, . 

Total net cash premiums received, $7,780 30 

Interest and dividends received from all other sources, . . 5,203 54 

Capital and surplus paid in, 360,000 00 



$7,596 05 




1,167 52 






$6,428 53 




$1,286 81 




658 29 






628 52 


$805 75 


82 50 






723 25 





Total income, $372,983 84 

Disbursements. 

Cash paid for matured employers' liability claims, 

for matured plate-glass claims, .... 
for commissions and brokerage, .... 
for salaries and expenses of officers and employees, 

for inspections, 

for taxes and fees, 

for advertising and printing, 

for organization expenses, 

for incidentals, 

Total disbursements, $13,593 70 

Balance, $359,390 14 

Invested in the following : — 

Assets as per Ledger Accounts. 
Cost value of bonds owned (schedule A), . . . . $305,024 39 
Cash deposited in bank, 54,365 75 



$70 00 


9 


90 


1,917 


61 


3,708 


35 


48 80 


616 


81 


2,303 


10 


3,659 76 


1,259 


37 


$13,593 70 



Total, $359,390 14 



262 



FRANKFORT AMERICAN INSURANCE CO. 



Other Assets. 
Interest due and accrued, .... 
Gross premiums in course of collection, . 

Total assets, per company's books, . 



$2,381 90 
6,726 27 

1368,498 31 



Liabilities. 
Claims adjusted or in process, . 
Unearned premiums on outstanding risks, 
Commissions and brokerage, . 

Gross liabilities, except capital, 

Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$845 00 
7,210 01 
2,070 92 



10,125 93 

f358,372 38 
300,000 00 

$58,372 38 



Risks and Premiums. 
Accident and Employers^ Liability. 

Risks written during 1898, .... 
Deduct risks expired and terminated, 

In force at end of year, .... 

Plate Glass. 

Risks written during 1898, .... 
Deduct risks expired and terminated, 

In force at end of year, . ... 

Steam Boiler. 

Risks written during 1898, .... 
Deduct risks expired and terminated, 

In force at end of year, .... 

Miscellaneous. 

Premiums received from organization of company, 
Claims paid from organization of company, 
Claims incurred during the year, 





Premium!. 


$2,867,000 00 


$12,198 43 


280,000 00 


1,254 06 


$2,587,000 00 


$10,944 37 


$132,818 00 


$2,270 70 


11,676 00 


658 29 


$121,142 00 


$1,612 41 


$485,000 00 


? 1,945 75 


20,000 00 


82 50 


$465,000 00 


$1,863 25 


my, 


$14,507 00 


. . . 


80 00 


... 


925 00 



Schedule A. 

Bonds owned by the Company. 

Cost Value. Market Value. 

New York State bonds $132,922 24 $132,922 24 

New York city bonds, 172,102 15 172,102 15 



$305,024 39 $305,024 39 



FRANKFORT MARINE ACCIDENT AND PLATE-GLASS INS. CO. 263 



UNITED STATES BRANCH OF "THE FRANKFORT MARINE 
ACCIDENT AND PLATE-GLASS INSURANCE COMPANY," 
FRANKFORT-ON-THE-MAIN, GERMANY. 

Deposit Capital, $200,000. 

F. G. Voss, U. S. Manager, Chicago, III. 

Income. 

Ace. and Emp. Llab. Plate Qlass. 

Prem's outst'd'g Dec. 31, 1897, . $106,507 33 $5,206 36 

Prem's on risks written or ren'd, 651,518 71 19,465 41 

Total, $758,026 04 $24,671 77 

Prem's now in course of coll'n, 168,403 53 5,121 48 

Entire premiums collected, $589,622 51 $19,550 29 
Less reins, and return prem's, . 81,046 57 3,181 46 

Net cash premiums ree'd, . $508,575 94 $16,368 83 

$524,944 77 

Interest and dividends received from all sources, . . . 8,000 00 

Rec'd from all other sources, viz. : exchange of investments, 68,125 00 

Total income, $601,069 77 

Net or ledger assets Dec. 31, 1897, 298,149 46 

Total, $899,219 23 

Disbursements. 

Ace. and Emp. Liab. Plate Glass. 

Cash paid for matured claims, . $199,392 91 $11,08108 

$210,473 99 

Cash dividends paid, 15,000 00 

Cash paid for commissions and brokerage, .... 145,754 03 

for salaries and expenses of officers and employees, 50,353 72 

for inspections, 7,794 49 

for taxes and fees, 9,831 00 

for advertising and printing, 5,304 55 

for incidentals, 4,299 86 

Total disbursements, $448,811 64 

Balance, $450,407 59 

Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of bonds owned (schedule A), .... $429,34417 

Bills receivable, 15,000 00 

Agents' debit balances, 6,063 42 

Total, $450,407 59 



264 FRANKFORT MARINE ACCIDENT AND PLATE-GLASS IN-. CO. 



Other Assets. 

Interest due and accrued, 

Market value of bonds over cost, 

Gross premiums in course of collection, . 

Total assets, per company's books, . 



$2,108 55 

6,125 83 

173,525 01 

$632,166 96 



Items not admitted. 



Agents' debit balances, 
Bills receivable, 
Total, . 



Total admitted assets, 



$6,063 42 
15,000 00 



21,063 42 
$611,103 54 



Liabilities. 
Claims adjusted or in process, . 
Unearned premiums on outstanding risks, 
Commissions and brokerage, . 
Gross liabilities, except capital, 

Surplus as regards policy holders, 
Deposit capital, 



Surplus over capital, 



$68,250 00 

282,756 73 

47,431 83 



398,438 56 

$212,664 98 
200,000 00 

$12,664 98 



Risks and Premiums. 
Accident and Employers' Liability. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



Premiums. 

.$35,689,000 00 $331,143 77 
. 68,854,750 00 651,518 71 



$104,543,750 00 $982,662 48 
. 43,639,750 00 433,403 27 



. $60,904,000 00 $549,259 21 



Plate Glass. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



f 1,399,385 00 
1,920,486 00 

$3,319,871 00 
1,559,864 00 



$18,782 17 
19,465 41 

$38,247 58 
21,993 31 



$1,760,007 00 $16,254 27 



Miscellaneous. 
Claims incurred during the year, 



$240,681 00 



THE GUARANTEE CO. OF NORTH AMERICA. 



265 



Schedule A. 
Bonds owned by the Company. 

Cost Value. 



United States bonds, 
Illinois Central R.R. bonds, 
Lake Shore R.R. bonds, . 
Union Pacific R.R. bonds, . 
Northern Pacific R.R. bonds, 



$254,225 00 
74,476 25 
65,213 04 
20,208 33 
15,221 55 



Market Value. 

$258,100 00 
75,600 00 
65,270 00 
21,050 00 
15,450 00 



$429,344 17 $435,470 00 



UNITED STATES BRANCH OF " THE GUARANTEE COMPANY OF 
NORTH AMERICA," MONTREAL, CAN. 

Deposit Capital, $200,000. 

Edward Rawlings, President. Robert Kerr, Secretary. 



Income. 

Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total, 

Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 

Net cash premiums received, . 
Interest received on mortgages, 
Interest and dividends received from all other 
Income from rents, .... 



sources, . 
Received from all other sources, viz. : appreciation in assets, 



$10,236 44 
175,878 05 



,114 49 
8,034 63 



$178,079 86 
34,848 74 



$143,231 12 

96 80 

17,653 14 

829 06 

13,187 91 



Total income, $174,998 03 

Net or ledger assets Dec. 31, 1897, 602,989 39 



Total $777,987 42 

Disbursements. 
Cash paid for matured claims, . . . . $81,273 64 
Deduct salvage and reinsurance, . . . 30,087 24 

Net cash paid for matured claims, . . $51,186 40 

Cash paid for commissions and brokerage, .... 8,191 57 

for salaries and expenses of officers and employees, 46,609 77 

for inspections, 13,331 75 

for taxes and fees, 6,169 24 

for rent 6,435 34 

for legal expenses, 1,823 48 



26$ THE GUARANTEE CO. OF NORTH AMERICA. 

Cash paid for advertising and printing, $3,353 02 

for profit and loss, securities marked oft', . . 1,000 00 

for incidentals, 7,422 58 

Total disbursements, $145,523 15 

Balance, $632,464 27 

Invested in the following : — 



Assets as per Ledger Accounts 

Cost value of real estate, 

Loans on mortgage of real estate (first liens), 
Cost value of stocks and bonds owned (schedule A), 

Cash deposited in bank, 

Office furniture, 



$34,599 54 
2,780 00 

565,200 00 

27,744 83 

2,139 90 



Total, $632,464 27 



Other Assets. 

Interest accrued, 

Market value of stocks and bonds over cost, . 
Gross premiums in course of collection, . 

Total assets, per company's books, . 



Office furniture, 
Real estate, 
Loans on mortgages, 
Stocks and bonds, 
Cash in bank, . 
Total, . 



Items not admitted 



1 f 

! not in control of j 

! trustees, . .1 



J 



I 





4,300 00 


. • 


1,345 00 


. 


8,034 63 


. 


$646,143 90 


$2,139 90 




34,599 54 




2,780 00 




162,983 84 




27,744 83 






230,248 11 



Total admitted assets, 
Deduct special deposits in other States, . 



$415,895 79 
16,580 00 



Balance, $399,315 79 



Liabilities. 



Claims adjusted or in process, . 
known or reported, 
disputed or resisted, 

Total amount of claims, . 
Less reinsurance, 



$6,675 09 

7,368 53 

59,833 39 

173,877 01 

10,000 00 



Net amount of unpaid claims, . 



$63,877 01 



THE GUARANTEE CO. OF NORTH AMERICA. 



267 



Unearned premiums on outstanding risks, . $84,734 48 

Due and accrued for rent, salaries, etc., . . 1,350 00 

Commissions and brokerage, .... 401 73 

Gross liabilities, except capital, . . $150,363 22 

Deduct liability on special deposits, . . 3,658 33 



Surplus as regards policy holders, 
Deposit capital, 



$146,704 89 

$252,610 90 
200,000 00 



Surplus over capital, $52,610 90 



Risks and Premiums. 
Fidelity. 

Premiums. 

Risks outstanding Dec. 31,1897, . . .$44,243,890 00 $215,154 55 



Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



. 49,567,874 00 175,878 05 



.$93,811,764 00 $391,032 60 
. 50,597,004 00 197,147 70 



. $43,214,760 00 $193,884 90 
. 6,236,024 00 24,415 94 



. $36,978,736 00 $169,468 96 



Miscellaneous. 
Claims incurred during the year, 



$34,102 00 



Schedule A. 

Stocks and Bonds owned by the 



United States Guarantee Co. stock, 
Philadelphia Bourse stock, 
Montreal Telegraph Co. stock, 
Western Union Telegraph Co. stock 
Bell Telephone Co. stock, 
Montreal Street Railway stock, 
Montreal harbor bonds, . 
Canada Southern R.R. bonds, . 
City of Toronto bonds, 
City of Brooklyn, N. Y., bonds, 
United States bonds, . 
City of Richmond, Va., bonds, . 



Company. 

Cost Value. 

$149,100 00 

275 00 

64,360 00 

18,200 00 

43,500 00 

12,375 00 

19,340 00 

10,800 00 

10,400 00 

106,700 00 

114,000 00 

16,150 00 



Market Value. 

$149,100 00 

275 00 

63,000 00 

18,600 00 

43,500 00 

14,450 00 

19,140 00 

11,000 00 

10,200 00 

106,700 00 

114,000 00 

16,580 00* 



$565,200 00 $566,545 00 



268 THE HARTFORD STEAM BOILER INSPECTION AND IN-. OO. 



"THE HARTFORD STEAM BOILER INSPECTION AND INSUR- 
ANCE COMPANY;' HARTFORD, CONN. 

[Incorporated June, 1866. Commenced business October, 1866.] 

Paid-up Capital, $500,000. 

J. M. Allen, President. J. B. Pierce, Secretary. 



Income. 

Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 

Total, 

Premiums now in course of collection, 



. $265,911 14 

. 1,057,602 85 

. $1,323,513 99 

277,374 58 



Entire premiums collected, . . . $1,046,139 41 
Less reinsurance and return premiums, . . 107,317 49 

Net cash premiums received, . . . $938,821 92 

Interest and dividends received from all sources, . . . 97,790 24 

Profit on securities sold, 1,057 46 

Received from special mechanical services, .... 1,977 12 

Received from all other sources, viz. : profit and loss, . . 350 00 



Total income, $1,039,996 74 

Net or ledger assets Dec. 31, 1897, 1,951,707 78 



Total •. . $2,991,704 52 

Disbursements. 

Cash paid for matured claims, $55,725 72 

Cash dividends paid, 60,000 00 

Cash paid for commissions and brokerage, .... 220,002 80 

for salaries and expenses of oflScers and employees, 140,694 66 

for furniture and fixtures, 1,263 83 

for inspections, 329,157 33 

for taxes and fees, 27,882 09 

for rent, 4.250 00 

for legal expenses, 900 00 

for advertising and printing, 33,730 93 

for depreciation of securities, 236 34 

for profit and loss, 14,864 08 

for incidentals, 2,685 87 



Total disbursements, $891,393 65 



Balance $2,100,310 87 



THE HARTFORD STEAM BOILER INSPECTION AND INS. CO. 269 

Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate, $58,432 91 

Loans on mortgage of real estate (first liens), . . . 301,000 00 

Cost value of bonds and stocks owned (schedule A), . . 1,640,087 24 

Cash in company's office, 3,523 70 

Cash deposited in bank, 97,267 02 



Total $ 2,100,310 87 

Other Assets. 

Interest accrued, 6,982 67 

Market value of bonds and stocks over cost, .... 42,503 76 
Gross premiums in course of collection, 277,374 58 



Total assets, per company's books, $2,427,171 88 

Items not admitted. 
Deduct special deposits in other States, 30,000 00 



Balance $2,397,171 88 

i 
Liabilities. 



Claims adjusted or in process, . 
Unearned premiums on outstanding risks, 
Commissions and brokerage, . 

Gross liabilities, except capital, 

Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$16,984 27 
1,329,202 73 
30,647 90 
1,376,834 90 



$1,020,336 98 
500,000 00 

$520,336 98 



Risks and Premiu 
Steam Boiler. 



MS. 



Premiums. 

Risks outstanding Dec. 31, 1897, . ". $274,330,707 00 $2,511,824 72 
Risks written during 1898, .... 119,728,589 00 1,057,602 85 



Total $394,059,296 00 $3,569,427 57 

Deduct risks expired and terminated, . .114,059,200 00 1,002,453 19 



In force at end of year, . . . $280,000,096 00 $2,566,974 38 

Miscellaneous. 

Prem's and inspections rec'd from organization of company, $12,678,475 00 
Claims paid from organization of company, .... 1,082,435 00 
Cash dividends declared from organization of company, . 954,750 00 

Claims incurred during the year, 61,007 00 

Company's stock owned by directors, 88,400 00 



270 THE HARTFORD STEAM BOILER INSPECTION AND ENS. CO. 



Schedule A. 

Bonds and Stocks owned by the Company. 

Cott Value. Market Valae. 

State of Connecticut bonds, .... $107,250 00 $100,000 00 

United States bonds, 2,326 00 2,200 00 

Wooster, O., city bonds, 10,000 00 10,600 00 

Toledo, O., city bonds 16,125 00 16,500 00 

Columbus, O., city bonds 10,300 00 10,300 00 

Atchison, Kan., city bonds, .... 15,000 00 15,000 00 

Solomon, Kan., city bonds, .... 1,990 00 2,000 00 

Hutchinson, Kan., city bonds, .... 12,000 00 13,200 00 

Coolidge, Kan., city bonds 5,500 00 2,200 00 

Horton, Kan., city bonds, 10,600 00 12,600 00 

Oberlin, Kan., city bonds 5,000 00 5,000 00 

Evansville, Ind , city bonds, .... 12,000 00 12,000 00 

Vincennes, Ind., city bonds, .... 16,160 00 16,000 00 

York, Neb., city bonds, 10,000 00 10,500 00 

Columbus, Neb., city bonds, .... 10,100 00 10,500 00 

Trinidad, Colo., city bonds, .... 5,125 00 5,250 00 

Gladstone, Mich., city bonds, . § . . . 10,000 00 10,500 00 

Gladwin, Mich, city bonds, .' . . 7,490 00 7,350 00 

Albina, Ore., city bonds, 11,175 00 12,500 00 

Astoria, Ore., city bonds, 21,000 00 20,900 00 

Rockport, Tex., city bonds 10,000 00 7,500 00 

Fort Worth, Tex., city bonds, .... 9,750 00 10,500 00 

Dallas, Tex., city bonds 10,300 00 10,500 00 

Tyler, Tex , city bonds, 6,360 00 6,300 00 

Wheeling, W. Va., city bonds, .... 11,300 00 11.000 00 

Huntington, W. Va., city bonds, . . . 10,525 00 10,500 00 

Charleston, W. Va., city bonds, . . . 20,900 00 21,000 00 

Richmond, Va., city bonds, .... 29,562 50 30,000 00 

Roanoke, Va., city bonds, 5,175 00 5,250 00 

Ogden, Utah, city bonds, 5,462 50 5,500 00 

Olympia, Wash., city bonds, 10,762 50 7,500 0O 

Athens, Ga., city bonds, 20,200 00 20,000 00 

Griffin, Ga., city bonds 6,000 00 6,000 00 

Abilene, Kan., Board of Education bonds, . 4,080 00 4,000 00 

Anthony, Kan., Board of Education bonds, . 13,062 50 12,500 00 

Kansas School District bonds, .... 9,756 80 9,450 00 

Maricopo, Ariz., School District bonds, . . 10,439 60 10,500 00 

Centreville, la , School District bonds, . . 10,100 00 10,100 00 

Second North School District bonds, Hartford, 10,000 00 10,500 00 

Center School District bonds, Waterbury, . 10,975 00 11,200 00 

Red'ds, Lugonia and Crafn U. H. S. Dist. Vds, 10,885 44 10,200 00 

W. C. Special Drainage Dist., Illinois, bonds, . 10,250 00 10,000 00 

No. Branch Lake Fork Drainage Dist, 111, b'ds, 9,630 00 9,000 00 

Big Lake Drainage District, 111., bonds, . . 15,600 00 15,600 00 



THE HARTFORD STEAM BOILER INSPECTION AND INS. CO. 271 



Beaver Township Drainage District, 111., b'ds, 
Oxford, Kan., township bonds, 
Oswego, Kan., township bonds, 
Jefferson, Kan., township bonds, 
Reno, Kan., township bonds, . 
Dexter, Kan., township bonds, . 
Haskell, Kan., township bonds, 
Albion, Nebraska, village bonds, 
School Creek Precinct, Clay Co., Neb , bonds, 
Sutton Precinct, Clay Co., Neb., bonds, . 
Lewis Precinct, Clay Co., Neb., bonds, . 
Pawnee County, Kansas, bonds, 
Cascade County, Montana, bonds, . 
Albany County, Wyoming, bonds, . 
Spokane County, Washington, bonds, 
Snohomish County, Washington, bonds, . 
Skagit County, Washington, bonds, . 
Rains County, Texas, bonds, . 
Graham County, Arizona, bonds, 
Jefferson County, Ohio, bonds, 
Muskingum County, Ohio, bonds, . 
Milwaukee County, Wisconsin, bonds, . 
Marion County, Indiana, bonds, 
Arizona Territory bonds, .... 
St. Louis & San Francisco R.R. bonds, 
Atlantic & Charlotte Air Line Railway bonds 
Texas & New Orleans R.R. bonds, . 
Lehigh Valley Terminal Railway bonds, 

Wabash R.R. bonds 

Terminal R'y Association of St. Louis bonds, 
Cincinnati, Dayton & Ironton R.R. bonds, 
Dayton & Western R.R. bonds, 
Mahoning Coal R.R. bonds, 
Cincinnati, Jackson & Mackinaw R.R. bonds, 
Chicago, Burlington & Quincy R.R. bonds, 
Indiana & Lake Michigan R.R. bonds, 
Jamaica & Brooklyn Road Co. bonds, 
Kanawha & Michigan Railway bonds, 
Cleveland, Cin., Chic. & St. Louis R'y bonds, 
Terre Haute & Peoria R.R. bonds, . 
Chicago & Western Indiana R.R. bonds, . 
Evansville & Indianapolis R R. bonds, . 
N. Y., New Haven & Hartford R.R. bonds, 
Louisville, New Albany & Chicago R.R. bonds 
Philadelphia & Reading R.R. bonds, 
Northern Pacific R.R. bonds, . 
Chicago & Erie R.R. bonds, 
Atchison, Topeka & Santa Fe Railway bonds, 



Cost Value. 

$11,550 00 

8,500 00 

10,000 00 

10,000 00 

15,000 00 

10,000 00 

5,250 00 

5,747 50 

5,000 00 

5,000 00 

4,000 00 

11,000 00 

8,590 00 

10,250 00 

10,500 00 

8,651 30 

10,537 50 

5,200 00 

5,350 00 

10,500 00 

5,000 00 

22,100 00 

22,025 00 

10,000 00 

27,255 20 

4,760 00 

27,690 00 

42,400 00 

20,775 00 

27,562 50 

9,550 00 

10,317 00 

9,350 00 

12,282 20 

3,200 00 

10,000 00 

4,950 00 

7,600 00 

19,231 25 

10,150 00 

29,000 00 

5,600 00 

7,693 50 

16,200 00 

29,120 00 

57,202 50 

54,747 50 

22,300 00 



Market Value. 

$11,550 00 

8,925 00 

10,000 00 

10,500 00 

15,750 00 

10,500 00 

2,500 00 

5,775 00 

5,250 00 

5,250 00 

4,200 00 

11,550 00 

8,800 00 

10,500 00 

10,500 00 

8,400 00 

10,500 00 

5,250 00 

5,250 00 

10,500 00 

5,100 00 

.22,000 00 

'22,000 00 

10,200 00 

29,450 00 

4,800 00 

28,750 00 

44,800 00 

22,400 00 

27,500 00 

11,000 00 

16,500 00 

12,000 00 

7,000 00 

3,920 00 

5,000 00 

5,500 00 

7,800 00 

20,000 00 

5,000 00 

30,000 00 

5,000 00 

12,975 00 

17,250 00 

33,600 00 

59,700 00 

56,000 00 

25,000 00 



272 



THE LAWYERS' SURETY CO. OF NEW YORK. 



Lehigh Valley of New York Railway bonds, . 
Toledo & Ohio Central Railway bonds, . 
Baltimore Belt R.R. bonds, .... 
Union Pacific R.R. Land Grant bonds, 
Louisiana Western R R. bonds, 
Central R.R. of New Jersey bonds, . 
Missouri, Kansas & Eastern Railway bonds, . 
Wheeling & Lake Erie Railway bonds, . 
Central of Georgia Railway bonds, . 
Hartford Street Railway bonds, 
West Chicago Street Railway Tunnel bonds, . 

40 shares City National Bank, Hartford, 
100 " Hartford National Bank, Hartford, 
100 " Security Company, Hartford, . 
100 " American National Bank, Hartford, 

85 " Farmers' & Mech »a N'l Bank, Hart., 

43 " iEtna National Bank, Hartford, 
190 " N. Y., New Haven & Hartford R.R., 
120 " Chic, Burlington & Quincy R R., . 
100 " Chic, Milwaukee & St. Paul R.R., . 
110 " Atchison, Topeka & Santa Fe R R., 
110 " . Chic, Rock Island & Pacific R.R., . 
100 " Chicago & Northwestern R.R., 

50 " Bald Eagle Valley R.R., . 
527 " St. Louis & San Francisco R.R., 
100 " Illinois Central R R., . 
200 " Northwestern Telegraph Co., . 
400 " Pacific & Atlantic Telegraph Co., . 



Cost Value. 

$20,450 00 

10,325 00 

8,600 00 

26,700 00 

11,000 00 

29,965 00 

10,000 00 

10,100 00 

9,200 00 

30,525 00 

25,250 00 

4,251 20 

15,578 00 

11,990 00 

6,418 50 

9,013 25 

4,614 00 

23,125 00 

14,225 00 

12,100 00 

10,784 50 

13,537 00 

14,026 00 

4,900 00 

6,405 00 

10,400 00 

10,150 00 

7,550 00 



Market Value. 
$21,000 00 

10,325 00 
10,500 00 
31,500 00 
11,000 00 
30,240 00 
10,000 00 
10,500 00 

9,200 00 
30,600 00 
25,250 00 

4,000 00 
14,000 00 
12,000 00 

6,500 00 

9,520 00 

6,235 00 
37,810 00 
14,880 00 
16,500 00 

2,400 00 
12,540 00 
18,500 00 
,000 00 
10,796 00 
11,400 00 
11,500 00 

7,500 00 



f 1,640,087 24 $1,682,591 00 



"THE LAWYERS 1 SURETY COMPANY OF NEW YORK/' 

NEW YORK, N. Y. 

[Incorporated March 30, 1892. Commenced business April 1, 1S92.] 

Paid-up Capital, $500,000. 

Joel B. Erhardt, President. Joel Rathbone, Secretary. 

Income. 
Premiums outstanding Dec. 31, < $32,693 37 
1897, error in 1897, . . .( 10 00 

$32,703 37 
100,883 31 



Premiums on risks written or renewed, . 



Total, 

Premiums now in course of collection, . 

Entire premiums collected, 
Less reinsurance and return premiums, . 
Net cash premiums received, . 



$133,586 68 
34,538 52 

?99,048 16 
21,175 44 



$77,872 72 



THE LAWYERS SURETY CO. OF NEW YORK. 



273 



Interest received on mortgages, .... 

Interest and dividends received from all other sources, 

Income from rents, . 

Cash recovered on losses paid, 

Received from all other sources, 



Total income, . 
Net or ledger assets Dec. 31, 1897, 



Total, 



$14,738 17 
4,558 01 



and employees, 



Disbursements 

Cash paid for matured claims, . 
Deduct salvage and reinsurance, 

Net cash paid for matured claims, . 
Cash paid for commissions and brokerage, 

for salaries and expenses of officers 

for furniture and fixtures, 

for advertising and printing, 

for taxes and fees, . 

for rent, .... 

for legal expenses, . 

for real estate expenses, . 

for losses on securities sold, 

for profit and loss, cost real estate marked off, 

for interest set aside to reduce premiums on cost 
of investments, 

for miscellaneous, . 



Total disbursements, 
Balance, 



$15 00 

22,427 86 

105 00 

2,906 47 

386 75 

$103,713 80 
685,737 83 

$789,451 63 



$10,180 16 

2,029 15 

42,598 29 

276 29 

2,607 66 

1,855 12 

6,515 00 

6,410 24 

73 34 

770 84 

3,813 29 

1,099 22 
4,577 22 

$82,805 82 

$706,645 81 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate, $18,000 00 

Loans on mortgage of real estate (first liens), . . . 540 00 

Book value of stocks and bonds owned (schedule A), . . 685,663 58 

Cash in company's office, 720 76 

Cash deposited in bank, 1,721 47 

Total, $706,645 81 

Other Assets. 

Interest accrued, 3,480 58 

Rents due, 250 00 

Market value of stocks and bonds over book, .... 6,139 82 

Gross premiums in course of collection, 34,538 52 

Total assets, per company's books, $751,054 73 



274 



THE LAWYERS' SURETY CO. OF NEW YORK. 



Liabilities. 

Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc., . 
Commissions and brokerage, . 
Gross liabilities, except capital, 

Surplus as regards policy holders, . 
Paid-up capital, 



$42,040 94 

2,678 98 

314 29 



$45,034 21 

$706,020 52 
500,000 00 



Surplus over capital $206,020 52 



Risks and Premiums. 

Surety. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



.$38,859,602 00 
. 45,260,102 00 



Premiums. 

$90,754 84 
100,883 31 



. $84,119,704 00 $191,638 15 
. 43,269,662 00 107,556 26 



. $40,850,042 00 $84,081 89 



Miscellaneous. 

Premiums received from organization of company, 
Claims paid from organization of company, . 
Claims incurred during the year, .... 
Company's stock owned by directors, 



$557,890 00 

21,136 00 

10,180 00 

169,000 00 



Schedule A. 
Stocks and Bonds owned by the Company. 

Book Value. Market Value. 

Rome, Watertown & Ogdensburg R.R. stock, . $11,933 56 $12,800 00 

United States bonds, 108,830 70 112,537 50 

New York city bonds, 525,903 07 521,165 90 

Brooklyn city bonds 10,175 00 10,600 00 

Chesapeake & Ohio R.R. bonds, . . . 16,412 50 18,200 00 

Virginia Midland R.R. bonds, .... 12,408 75 16,500 00 



$685,663 58 $691,803 40 



LLOYDS PLATE-GLASS INSURANCE CO. OF NEW YORK. 275 



" LLOYDS PLATE-GLASS INSURANCE COMPANY OF NEW YORK," 

NEW YORK, N. Y. 

[Incorporated August, 1882. Commenced business September, 1882.] 
Paid-up Capital, $250,000. 

William T. Woods, President. Charles E. W. Chambers, Secretary. 

Income. 

Premiums outstanding Dec. 31, 1897, . . $65,984 40 
Premiums on risks written or renewed, . . 451,810 57 



Total $517,794 97 

Premiums now in course of collection, . . 62,920 33 



Entire premiums collected, . . . $454,874 64 
Less reinsurance and return premiums, . . 37,989 19 

Net cash premiums received, . . . $416,885 45 

Interest and dividends received from all sources, . . . 16,030 27 

Income from rents, 12,321 11 

Profit on securities sold, 7,625 27 

Received from all other sources, 50 96 

Total income, $452,913 06 

Net or ledger assets Dec. 31, 1897, 661,930 04 

Total, $1,114,843 10 

Disbursements. 

Cash paid for matured claims, .... $160,510 08 
Deduct salvage and reinsurance, . . . 17,179 93 

Net cash paid for matured claims, . . $143,330 15 

Cash dividends paid, 50,000 00 

Cash paid for commissions and brokerage, .... 159,532 89 

for salaries and expenses of officers and employees, 59,488 58 

for taxes and fees, 22,221 83 

for rent, 2,961 70 

for legal expenses, 290 36 

for real estate expenses, 3,178 05 

for furniture and fixtures, 482 30 

for advertising and printing, 10,042 68 

for incidentals, 10,102 92 



Total disbursements, $461,631 46 



Balance $653,211 64 



276 LLOYDS PLATE-GLASS INSURANCE CO. OF NEW YORK. 



Invested in the following: : — 

Assets as per Ledger Accounts. 

Cost value of real estate 

Loans on mortgage of real estate (first liens), 
Cost value of stocks and bonds owned (schedule A), 

Cash in company's office, 

Cash deposited in bank, 



Total, 



Other Assets. 

Interest accrued, 

Market value of real estate over cost, 
Gross premiums in course of collection, . 

Total assets, per company's books, . 



$245,763 18 


20,000 00 


372,194 98 


3,382 67 


11,870 81 


$653,211 64 


48 61 


19,236 82 


62,920 33 


$735,417 40 



Items not admitted and Depreciation. 
Premiums over three months due, . . . $5,054 84 



Depreciation from cost of assets, 
Total, 



Total admitted assets, 
Deduct special deposits in other States, 



Balance, 



3,844 44 



8,899 28 

$726,518 12 
51,501 42 

$675,016 70 



Liabilities. 
Claims adjusted or in process, . 
Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc., 
Commissions and brokerage, . 

Gross liabilities, except capital, 
Deduct liability on special deposits, 

Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$3,649 42 

224,538 71 

30,640 48 

14,466 37 

$273,294 98 
46,140 29 



227,154 69 

$447,862 01 
250,000 00 

$197,862 01 



Risks and Premiums. 

Plate Glass. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



. $16,434,140 00 
. 19,654,631 00 



$36,088,771 00 
15,275,296 00 



Premiums. 

$399,756 31 
451,810 57 

$851,566 88 
404,263 11 



.$20,813,475 00 $447,303 77 



LLOYDS PLATE-GLASS INSURANCE CO. OF NEW YORK. 277 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$5,262,769 00 

1,875,494 00 

513,250 00 

167,937 00 

102,600 00 



Schedule A. 

Stocks and Bonds owned by the Company. 

Cost Value. Market Value. 

Brooklyn Trust Co. stock, .... $20,250 00 $20,000 00 

Central Park, North & East River R.R. stock, 8,250 00 9,400 00 

Manhattan Trust Co. stock, .... 5,711 57 7,875 00 

Northern Pacific R R. Co. stock, . . . 4,294 00 8,771 62 

Corn Exchange Bank stock, .... 14,400 00 13,000 00 

Brooklyn Union Gas Co. stock, . . . 10,512 50 13,900 00 

Coney Island & Brooklyn R.R. stock, . . 9,350 00 13,000 00 

Second Avenue R.R. Co. stock, . . . 9,000 00 9,650 00 

Dry Dock, E. Broadway & Battery R.R. stock, 4,410 00 4,545 00 

United States bonds, 150,134 26 128,643 75 

Coney Island & Brooklyn R.R. bonds, . . 5,487 78 5,150 00 

Toledo & Ohio Central R.R. bonds, . . 9,768 75 10,350 00 

Second Avenue R.R. bonds, .... 5,427 92 5,400 00 

Brooklyn Cross Town R.R. bonds, . . . 5,575 00 5,350 00 

Brooklyn City & Newton R.R. bonds, . . 5,155 00 5,800 00 

Kanawha & Michigan R.R. bonds, . . . 11,393 75 12,000 00 

N. Y. & East River Ferry Co. bonds, . . 4,700 00 5,000 00 

Nor. Pac. Gen. Lien & Land Grant R.R. bonds, 6,267 50 7,963 75 

Hoboken Ferry Co. bonds, .... 10,512 50 10,800 00 

Central Union Gas Co. bonds, .... 10,275 00 10,600 00 

Elmsford Drainage bonds, .... 3,000 00 3,000 00 

Brooklyn Ferry Co. bonds, .... 6,790 00 6,650 00 

Dominion of Canada bonds, .... 31,764 22 31,350 00 

City of Ottawa, Ontario, bonds, . . . 6,401 20 6,675 00 

City of Hamilton, Ontario, bonds, . ' . . 7,864 03 7,801 42 

City of Montreal, Quebec, bonds, . . . 5,500 00 5,675 00 



$372,194 98 $368,350 54 



278 LONDON GUARANTEE AND ACCIDENT CO., LIMITED. 



UNITED STATES BRANCH OF THE " LONDON GUARANTEE AND 
ACCIDENT COMPANY, LIMITED," LONDON, ENGLAND. 

Deposit Capital, $200,000. 

A. W. Masters, Resident Manager, Chicago, III. 

Income. 

Ace. and Emp. Liab. Fidelity. 

Prem's outst'd'g Dec. 31, 1897,. $156,97186 $1,153 62 

Prem's on risks written or ren'd, 863,013 62 2,254 25 

Total, $1,019,985 48 f 3,407 87 

Prem's now in course of coll'n, 142,067 38 

Entire premiums collected, $877,918 10 
Less reinsur. and return prem's, 140,684 42 462 12 

Net cash premiums received, $737,233 68 $2,945 75 

$740,179 43 

Interest and dividends received from all sources, . . . 28,446 89 

Profit on securities sold, 136 64 

Received from all other sources, viz. : profit and loss, . 22 75 

Total income, $768,785 71 

Net or ledger assets Dec. 31, 1897, 763,605 38 

Total, $1,532,391 09 

Disbursements. 

Ace. and Emp. Liab. Fide 

Cash paid for matured claims, . $368,513 05 $128 26 

$368,641 31 

Remitted to home ofiice 28 

Cash paid for commissions and brokerage, .... 199,160 54 

for salaries and expenses of officers and employees, 61,553 36 

for medical examiners' fees, 3,777 28 

for inspections, 5.231 31 

for taxes and fees, etc., 49 32 

for rent, 4,180 01 

for legal expenses, etc., 4,869 17 

for furniture and fixtures, 624 30 

for advertising and printing, 10,535 41 

for incidentals, 12.742 44 

Total disbursements, $715,004 93 

Balance, $817,386 16 



LONDON GUARANTEE AND ACCIDENT CO., LIMITED. 279 



Invested in the following : — 

Assets as per Ledger Accounts. 
Cost value of bonds owned (schedule A) , 

Cash in company's office, 

Cash deposited in bank, 



$758,453 63 

976 37 

57,956 16 



Total, $817,386 16 



Other Assets. 
Interest accrued, . . 
Market value of bonds over cost, 
Gross premiums in course of collection, . 

Total assets, per company's books, . 

Items not admitted. 
Cash not in control of trustees, 

Total admitted assets, .... 



Liabilities. 
Claims adjusted or in process, . 
known or reported, 
disputed or resisted, 
Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc., . 
Commissions and brokerage, . 

Gross liabilities, except capital, 



8,599 81 

33,301 75 

138,786 40 

$998,074 12 



976 37 
$997,097 75 



Surplus as regards policy holders, 
Deposit capital, .... 



$5,000 00 
13,037 19 
227,235 00 
339,197 61 
13,555 64 
37,793 41 



Surplus over capital, .... 

Risks and Premiums. 

Accident and Employers' Liability. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 


$165,098,250 00 $1,536,880 82 
91,432,550 00 860,274 10 


In force at end of year, 

Fidelity. 
Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 


$73,665,700 00 

$1,026,600 00 
346,500 00 


$676,606 72 

$5,946 80 
2,254 25 


Total, 

Deduct risks expired and terminated, 


$1,373,100 00 
1,118,100 00 


$8,201 05 
6,412 55 



In force at end of year, 



$77,271,150 00 
87,827,100 00 



635,818 85 

$361,278 90 
200,000 00 

$161,278 90 



Premiums. 

$673,867 20 
863,013 62 



$255,000 00 $1,788 50 



280 



MARYLAND CASUALTY CO. 



Miscellaneous. 
Claims incurred during the year, 

Schedule A. 



. $368,641 GO 



Bonds owned by the Company. 

Cost Value. 



United States bonds, .... 

Pennsylvania R.R. bonds, 

New York Cent. & Hudson River R.R. cert's, 

Illinois Central R.R. bonds, 

Baltimore & Ohio R.R. bonds, . 

Chicago & Northwestern R.R. bonds, 

Manhattan Elevated R.R. bonds, 

Long Island R.R. bonds, . 

City of Jersey City bonds, 

City of Brooklyn bonds, . 

City of Boston bonds, 

City of Chicago bonds, 

City of New York bonds, . 

City of Philadelphia bonds, 

City of Hartford bonds, . 

State of Massachusetts bonds, 



$200,000 00 
62,098 48 
50,996 26 
48,773 58 
13,541 26 
30,061 99 
25,147 33 
9,839 95 
27,287 82 
51,136 25 
51,437 50 
52,503 75 

, 26,781 25 
26,374 75 
27,312 50 
55,160 96 



Market Value. 

$223,250 00 
61,804 55 
52,000 00 
49,825 83 
12,935 00 
28,250 00 
23,875 00 
9,760 00 
29,860 00 
53,900 00 
54,250 00 
55,370 00 
27,125 00 
26,050 00 
27,500 00 
56,000 00 



$758,453 63 $791,755 38 



"MARYLAND CASUALTY COMPANY," BALTIMORE, MD. 

[Incorporated Feb. 4, 1898. Commenced business March 1, 1898.] 

Paid-up Capital, $500,000. 

John T. Stone, President. Joseph Walter, Secretary pro tern. 

Income. 

Cash rec'd for ace. and emp. liab. risks, . 
Deduct reinsurance and return premiums, 

Net cash ree'd for ace. and emp. liab. risks 
Cash received for plate-glass risks, . 
Deduct reinsurance and return premiums, 

Net cash received for plate-glass risks, 
Cash received for steam-boiler risks, 
Deduct reinsurance and return premiums, 

Net cash received for steam-boiler risks, 
Cash received for sprinkler risks, . 
Deduct reinsurance and return premiums, 

Net cash received for sprinkler risks, 



Total net cash premiums received, . 



. $177,124 13 






21,663 29 








tl 


55,460 84r 


$3,581 79 






678 73 




2,903 06 




$6,474 05 






2,263 74 




4,210 31 




$1,748 27 






250 00 




1.49- 





$164,072 48 



MARYLAND CASUALTY CO. 



281 



Interest and dividends received from all sources, 
Received from all other sources, 



$12,370 85 
8,255 71 



Total income, $184,699 04 

Capital and surplus paid in, 700,000 00 

Total, $884,699 04 



Disbursements. 



Cash paid for matured claims, . 



Ace. and Emp. Liab. 

$9,281 39 



Plate Glass. 
$409 29 



Cash paid for commissions and brokerage, . . . . 
for salaries and expenses of officers and employees, 
for medical examiners' fees, . 
for inspections, .... 
for taxes and fees, .... 

for rent, 

for legal expenses, .... 

for furniture and fixtures, 

for advertising and printing, . 

for losses on securities sold under cost, 

for incidentals, .... 



Total disbursements, 
Balance, 



$9,690 68 

42,229 24 

26,903 15 

3,000 31 

2,473 08 

6,480 51 

665 00 

2,153 94 

1,131 22 

11,264 52 

3,871 47 

738 32 

$110,601 44 

$774,097 60 



Invested in the following : — 

Assets as per Ledger Accounts. 

Loans on collateral security (schedule A), 
Cost value of bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 

Agents' debit balances, 



$18,000 00 

707,108 28 

23,524 58 

25,185 90 

278 84 



Total, $774,097 60 



Other Assets. 

Interest due and accrued, 

Market value of bonds over cost, 

Gross premiums in course of collection, . 

Total assets, per company's books, . 

Items not admitted. 



Agents' debit balances, 



Total admitted assets, 
Deduct special deposits in other States, . 



2,849 90 

36,133 90 

101,706 31 

$914,787 71 



278 84 

$914,508 87 
69,725 00 



Balance, $844,783 87 



282 



MARYLAND CASUALTY CO. 



Liabilities. 



liab 



Claims adjusted or in process, . 
known or reported, 
disputed or resisted, 
Unearned pre- /'Accident and emp 
miums on j Plate glass, . 
outstand-i Steam boiler, 
ing risks, . I Sprinkler, 
Commissions and brokerage, . 

Gross liabilities, except capital, 
Deduct liability on special deposits, 



Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$4,971 32 
2,240 87 
8,000 00 
120,604 86 
3,105 24 
4,987 57 
1,352 14 
28,008 51 

$173,270 51 
4,541 58 



$168,728 93 

$676,054 94 
500,000 00 



$176,054 94 



Risks and Premiums. 
Accident and Employers' Liability. 



Risks written during 1898, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



Plate Glass. 

Risks written during 1888, 

Deduct risks expired and terminated, 

In force at end of year, 

Steam Boiler. 

Risks written during 1898, 

Deducts risks expired and terminated, 

In force at end of year, 

Sprinkler. 

Risks written during 1898, 

Deduct risks expired and terminated, 

In force at end of year, 



$23,394,900 00 
4,039,850 00 



$19,355,050 00 
10,000 00 



Premiums. 

$270,114 38 
23,405 51 

$246,708 87 
6,000 00 



$19,345,050 00 $240,708 87 



$210,163 00 
12,095 00 



$3,200,500 00 
454,000 00 



$300,300 00 
25,000 00 



$6,889 21 
678 73 



$198,068 00 $6,210 48 



$10,676 69 
2,263 74 



$2,746,500 00 $8,412 95 



$2,954 27 
250 00 



$275,300 00 $2,704 27 



Miscellaneous. 

Claims incurred during the year, 
Company's stock owned by directors, 



$9,691 00 
161,800 00 



MASSACHUSETTS TITLE INSURANCE CO. 



283 



200 shares American Bonding & Trust Co., 
83 " Baltimore Medical College, . 



Schedule A. 
Securities held as Collateral. 

Market Value. Amount Loaned. 

I $22,750 00 $18,000 00 



Schedule B. 

Bonds owned by the Company. 

Cost Value. 



United States bonds, 
Maryland State bonds, 
Virginia State bonds, 
Baltimore city bonds, 



$283,448 16 

25,375 00 

24,335 00 

373,950 12 



Market Value. 

$291,126 42 

25,500 00 

28,475 00 

398,140 76 



$707,108 28 $743,242 18 



"MASSACHUSETTS STREET RAILWAY ACCIDENT ASSOCIA- 
TION." 

[Incorporated April 15, 1897. Commenced business March 24, 1898.] 

Adams D. Claflin, President. * Henry N. Rice, Secretary. 

Office, 53 State Street 

Note. — This company has done no business as yet, except to issue one policy to keep its 
charter alive. 



"MASSACHUSETTS TITLE INSURANCE COMPANY, 1 ' BOSTON. 

[Incorporated Jan. 19, 1885. Commenced business March 6, 1885.] 

Paid-up Capital, $300,000. 

Hales W. Sdter, President. J. Thomas Baldwin, Clerk and Treasurer. 

Office, Devonshire Building. 



Detailed Statement op Stocks. 

Par Value. 

20 shares Mercantile Trust Co., . . . $2,000 00 

Summary of Assets Dec. 31, 1898. 
Loans on mortgage of real estate (first liens*), $85,995 68 

582 23 

2,000 00 

250 80 

66,304 74 

3,332 92 

182,500 00 



Market Value. 

$2,000 00 



Interest due or accrued thereon, 
Stocks owned, .... 
Cash in the office of the company, 
Cash deposited in bank, . 
Premiums in course of collection, 
Plant of company, . 
Gross assets, 



§340,966 37 



* Value of lands mortgaged, $41,872 00 

Value of buildings thereon 91,400 00 

Amount of insurance held as collateral, . . . 80,500 00 



284 THE METROPOLITAN PLATE-GLASS INS. CO. OF NEW YORK. 



Liabilities. 
Due for borrowed money, .... $7,630 30 

Trust funds, 29,643 40 

Gross liabilities, except capital, . . 137,273 70 

Income. 

Cash premiums received, $13,588 00 

Interest and dividends received from all sources, . . . 6,668 04 

Conveyancing and title examinations, 7,619 80 



Gross cash income, $27,875 84 

Expenditures. 

Cash paid for losses, £217 19 

for commissions and brokerage, .... 233 64 

for salaries and expenses of officers and employees, 14,769 08 

for rent, 3,000 00 

for company's notes, 1,000 00 

for incidentals, 5,849 25 



Gross cash expenditures, . $25,069 16 



"THE METROPOLITAN PLATE-GLASS INSURANCE COMPANY 
OF NEW YORK," NEW YORK, N. Y. 

[Incorporated April 22, 1874. Commenced business April 23, 1874.] 
Paid-up Capital, $100,000. 

Eugene H. Winslow, President. S. W. Burton, Secretary. 

Income. 

Premiums outstanding Dec. 31, 1897, . . $40,186 69 
Premiums on risks written or renewed, . . 297,144 97 

Total, $337,331 66 

Premiums now in course of collection, . . 42,703 67 

Entire premiums collected, . . . $294,627 99 
Less reinsurance and return premiums, . . 42,409 66 

Net cash premiums received, . . . $252,218 33 

Interest and dividends received from all sources, . . . 11,775 64 

Income from rents, 2.775 99 

Profit on securities sold, 10,295 90 

Total income, $277,065 86 

Net or ledger assets Dec. 31, 1897, 465,408 99 

Total, $742,474 85 



THE METROPOLITAN PLATE-GLASS INS. CO. OF NEW YORK. 285 



Disbursements. 

Cash paid for matured claims, .... $115,677 71 
Deduct salvage and reinsurance, . . . 5,146 06 

Net cash paid for matured claims, . . $110,531 65 

Cash dividends paid 20,000 00 

Cash paid for commissions and brokerage, .... 89,669 29 

for salaries and expenses of officers and employees, 37,775 29 

for taxes and fees, 16,145 02 

for legal expenses, 240 53 

for real estate expenses, 1,833 25 

for furniture and fixtures, 29 50 

for advertising and printing, 3,787 68 

for incidentals, 8,116 73 



Total disbursements, $288,128 94 



Balance, $454,345 91 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of real estate, $150,000 00 

Cost value of stocks and bonds owned (schedule A), . 279,207 99 

Cash in company's office, 1,243 19 

Cash deposited in bank, 23,894 73 



Total $454,345 91 



Other Assets. 



Interest accrued, 

Rents due and accrued, .... 

Plate glass on hand, 

Market value of stocks and bonds over cost, 
Gross premiums in course of collection, . 
Bills in course of collection for plate glass, 

Total assets, per company's books, . 



533 


33 


137 


51 


902 


82 


13,149 


51 


37,055 


96 


141 


94 


$506,266 98 



Items not admitted. 
Bills in course of collection for plate glass, . 



141 94 



Total admitted assets, 



. $506,125 04 



286 THE METROPOLITAN PLATE-GLASS INS. CO. OF NEW YORK, 



Liabilities. 
Claims adjusted or in process, .... f 1,500 00 

Unearned premiums on outstanding risks, . 131,553 22 
Commissions and brokerage, .... 9,263 99 

Miscellaneous, 6,067 59 

Gross liabilities, except capital, . . $ 148,384 80 

Surplus as regards policy holders, 8357,740 24 

Paid-up capital, 100,000 00 

Surplus over capital, $257,740 24 



Risks and Premiums. 
Plate Glass. 

Premium!. 

Risks outstanding Dec. 31, 1897, . . . 110,573,576 00 $267,473 95 
Risks written during 1898, .... 13,638,322 00 297,144 97 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



. $24,211,898 00 $564,618 92 
. 11,990,635 00 301,512 48 



. $12,221,263 00 $263,106 44 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$3,663,841 00 

1,404,150 00 

288,000 00 

109,832 00 

27,500 00 



Schedule A. 
Slocks and Bonds owned by the Company. 

Cost Value. Market Value. 

20 shares Fifth Ave. Bank, Brooklyn, . . $2,600 00 $ 2,000 00 

178 " Brooklyn Bank, Brooklyn, . . 16,300 00 11,570 00 

100 " Western Union Telegraph Co., . 8,389 24 9,300 00 

20 " King's County Trust Co., . . 3,000 00 5,800 00 

50 " Long Island Safe Deposit Co., . 2,512 50 1,500 00 

250 " Consolidated Gas Co., . . . 40,431 25 48,875 00 

133 " American District Telegraph Co., . 1,537 50 1,662 50 

100 " Chicago & Northwestern R.R., . 10,775 00 14,200 00 

200 " Brooklyn Union Gas Co., . . 20,362 50 27,600 00 

100 " New Amsterdam Gas Co , . . 7,550 00 6,950 00 

100 " N. Y. Central & Hudson River R.R., 11,350 00 12,300 00 

100 " Chic, Burlington & Quincy R.R., . 11,550 00 12,500 00 



MUTUAL BOILER INSURANCE CO. 



287 



United States bonds, .... 
Brooklyn City & Newtown R.R. bonds, 
Union Ferry Co. bonds, . 
Newburgh Electric R.R. bonds, 



Cost Value. 

$116,625 00 

10,825 00 

10,400 00 

5,000 00 



Market Value. 

$112,000 00 

11,400 00 

10,200 00 

4,500 00 



179,207 99 $292,357 50 



-MUTUAL BOILER INSURANCE COMPANY;' BOSTON. 

[Incorporated April, 1877. Commenced business June, 1877.] 

Edward Atkinson, President. David W. Lane, Secretary. 

Office, 31 Milk Street. 



LXCOME. 

Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total, 

Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 

Net cash premiums received, . 
Interest and dividends received from all 
Received from inspection fees, etc., . 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



Total, 



sources, 



Disbursements 

Cash paid as profits on terminated policies, 
for commissions and brokerage, 
for salaries and expenses of officers 
for inspections, 
for taxes and fees, . 

for rent, 

for incidentals, 



$610 57 
15,352 37 

$15,962 94 
246 50 

$15,716 44 

693 48 



and employees 



Total disbursements, .... 
Balance, 

Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of bonds owned (schedule A), 

Cash in company's office, 

Cash deposited in bank, 



$15,022 96 
312 32 
239 41 

$15,574 69 
9,976 80 

$25,551 49 



$3,282 33 

402 23 

3,090 00 

4,353 41 

147 89 

240 00 

1,348 30 

$12,864 16 

$12,687 33 



$4,305 00 

325 66 

8,056 67 



Total, . 



$12,687 33 



2ss 



NATIONAL >URETY CO. 



Other Assets. 

Interest accrued, 

Gross premiums in course of collection, . 

Total assets, per company's books, . 

Liabilities. 
Unearned premiums on outstanding risk-. 
State and local taxes, .... 
Commissions and brokerage, . 
Gross liabilities, except capital, 

Surplus as regards policy holders, . 



Risks and Premiums. 
Steam Boiler. 

Risks outstanding Dec. 31, 1897, $2,717,200 00 
Risks written during 1898, . . 3,028,400 00 



$80 00 
246 50 



$7,433 87 
20 29 
11 50 


$13,013 83 
7,465 66 





Total, $5,745,600 00 

Deduct risks exp'd and termM, . 2,821,800 00 



Premiums 

$14,175 00 
15,352 37 

$29,527 37 
14,659 63 



$5,o48 17 



Con ting t Prem'g. 

$141,750 00 
153,523 70 

1295,273 70 
146,596 30 



In force at end of year, . $2,923,800 00 $14,867 74 $148,677 40 



Miscellaneous. 
Claims paid from organization of company, . 

Schedule A. 



Old Colony R.R. bonds, 



Bonds owned by the Company. 

Cost Value. 

$4,305 00 



$14,362 00 



Market Valne. 

$4,600 00 



" NATIONAL SURETY COMPANY," NEW YORK, N. Y. 

[Incorporated Feb. 24, 1897. Commenced business June 9, 1S97/ 
Paid-up Capital, $500,000. 

Charles A. Dean, President. Ballard McCall, Secretary. 

Income. 



Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total, 

Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 
Net cash premiums received, . 



Fidelity and Surety. 

f49,436 94 
511,735 29 

$561,172 23 
94,220 00 

$466,952 23 
65,544 26 



$401,407 97 



NATIONAL SURETY CO. 289 

Interest received on mortgages, $2,887 59 

Interest and dividends received from all other sources, . . 34,601 39 

Received from* all other sources, viz. ; trust funds, etc., . . 32,915 10 



Total income, $471,812 05 

Net or ledger assets Dec. 31, 1897, 1,123,692 50 



Total, $1,595,504 55 

Disbursements. 

Cash paid for matured claims, .... $79,998 88 
Deduct salvage and reinsurance, . . . 33,895 65 

Net cash paid for matured claims, . . $46,103 23 

Cash dividends paid, 25,000 00 

Cash paid for commissions and brokerage, .... 31,596 65 

for salaries and expenses of officers and employees, 129,562 28 

for inspections, etc., 30,499 39 

for taxes and fees, 7,212 38 

for rent, 8,171 16 

for legal expenses, 5,341 50 

for advertising and printing, 14,336 78 

for loss on securities sold, 281 25 

for incidentals, 16,591 20 

Total disbursements, $314,695 82 

Balance $1,280,808 73 

* 

Invested in the following : — 

Assets as per Ledger Accounts. 

Loans on mortgage of real estate (first liens), . . . $48,775 00 

Cost value of bonds owned (schedule A), .... 1,045,50075 

Cash in company's office, 1,123 72 

Cash deposited in bank, 74,383 33 

Furniture and fixtures, 13,319 69 

Amounts advanced" on contracts, secured by mortgages and 

cash payments assigned, 97,706 24 



Total, $1,280,808 73 

Other Assets. 

Interest due and accrued, 6,997 43 

Market value of bonds over cost, 13,444 25 

Gross premiums in course of collection, 94,220 00 



Total assets, per company's books, $1,395,470 41 



290 



NATIONAL SURETY CO. 



Items not admitted. 
Furniture and fixtures, $13,319 69 



Total admitted assets, 
Deduct special deposits in other States, 



?1,382.K 

85,825 00 



Balance, $1,296,32 



Liabilities. 
Claims adjusted or in process, . 
Claims disputed or resisted, 
Unearned premiums on outstanding r:~ 

Reinsurance, 

Commissions and brokerage, . 

Trust funds, 

Special reserve for contingent claims, 

Gross liabilities, except capital, 
Deduct liability on special deposits, 



Surplus as regards policy holders, . 
Paid-up capital, 



$9,258 43 

26,467 90 

211,909 03 

225 55 

6,014 26 

31.840 14 

21,000 00 

f306,715 31 
8,965 10 



297 

$998,575 51 
500,000 00 



Surplus oyer capital, $498,575 51 



Risks and Premit 

Fidelity and Surety. 

Premiums. 

Risks outstanding Dec. 31, 1897, . . $61,417,465 00 $225,595 95 



Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



138,079,054 00 511,735 29 



$199,496,519 00 $737,331 24 
75,640,110 00 307,977 38 



$123,856,409 00 f429,353 
2,040.542 00 5,535 80 



f 121,815,867 00 $423,818 06 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$606,371 00 

53,612 00 

25,000 00 

77.172 00 

262,600 00 



THE NEW JERSEY PLATE-GLASS INSURANCE CO. 



291 



Schedule A. 
Bonds owned by the Company. 

Cost Value. 



United States bonds, . 
New York city bonds, 
City of Brooklyn bonds, 



$171,482 00 

803,868 75 

70,150 00 



Market Value. 

$176,100 00 

811,770 00 

71,075 00 



$1,045,500 75 $1,058,945 00 



«THE NEW JERSEY PLATE-GLASS INSURANCE COMPANY," 

NEWARK, N. J. 

[Incorporated April 21, 1868. Commenced business Sept. 15, 1868.] 

Paid-up Capital, $100,000. 

Samuel C. Hoagland, President. James S. Hedden, Secretary. 



Income. 

Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total,. . . .' 
Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 

Net cash premiums received, . 
Interest received on mortgages, 
Income from rents, .... 
Received from all other sources, 

Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



$16,703 54 
89,103 56 

$105,807 10 
15,251 46 



,555 64 
15,656 09 



$74,899 55 

7,056 02 

262 00 

12 00 

182,229 57 

155,227 05 



Total, $237,456 62 



$34,582 79 
5,915 74 



Disbursements. 

Cash paid for matured claims, .... 

Deduct salvage and reinsurance, 

Net cash paid for matured claims, . . $28,667 05 

Cash dividends paid, 6,063 00 

Cash paid for commissions and brokerage, .... 24,237 25 

for salaries and expenses of officers and employees, 9,411 04 

for taxes and fees, 5,530 61 

for rent, 1,250 00 

for legal expenses, 73 15 



292 



THE NEW JERSEY PLATE-GLASS INSURANCE CO. 



Cash paid for real estate expenses, . 

for advertising and printing, . 
for incidentals, 



$176 61 

806 63 

1,524 48 



Total disbursement-, $77,739 82 



Balance, $159,716 80 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost value of real estate, 

Loans on mortgage of real estate (first liens), 
Cash in company's office, . , . . 

Cash deposited in bank, 

Bills receivable, 

Agents 1 debit balances, 

Total 

Deduct agents 1 credit balances, 

Total net or ledger assets, as per balance, 

Other Assets. 

Interest accrued, 

Market value of real estate over cost, 
Gross premiums in course of collection, . 

Total assets, per company's books, . 



$5,976 56 


142,445 00 


1,713 84 


8,958 07 


735 25 


33 62 



|169,862 
145 


34 
54 


$159,716 80 

1,579 15 

3,523 44 

12,001 86 



$176,821 25 



Items not admitted. 



Agents 1 debit balances, 
Bills receivable, 

Total 

Total admitted assets, 



|33 62 
735 25 



768 87 



$176,052 38 



Liabilities. 

Claims adjusted or in process, . 
Claims known or reported, 
Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc., 
Commissions and brokerage, . 

Gross liabilities, except capital, 

Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$1,518 72 
277 00 

37,901 60 

388 32 

3,993 17 



44,078 81 

$131,973 57 

100,000 00 

$31,973 57 



THE NEAV YORK PLATE-GLASS INSURANCE CO. 



293 



Risks and Premiums. 

Plate Glass. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total, 

Deduct risks expired and terminated, 

In force at end of year, 



$3,350,428 00 
3,900,752 00 

$7,251,180 00 
3,846,120 00 



Premiums. 

$82,906 12 
89,103 56 

$172,009 68 
96,916 92 



$3,405,060 00 $75,092 76 



Miscellaneous. 
Premiums received from organization of company, 
Claims paid from organization of company, . 
Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, . . . . 



$703,922 00 

240,838 00 

70,891 00 

29,715 00 

79,710 00 



" THE NEW YORK PLATE-GLASS INSURANCE COMPANY," 

NEW YORK, N. Y. 

[Incorporated March 19, 1891. Commenced business March 19, 1891.] 
Paid-up Capital, $100,000. 



Max Danziger, President. 

Income. 

Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total 

Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 

Net cash premiums received, 
Interest and dividends received from all 
Profit on securities sold, . 



Total income, . 
Net or ledger assets Dec. 31, 1897, . 



Total, 



Major A. White, Secretary. 



841,043 56 
259,924 19 



$300,967 75 
44,628 27 

$256,339 48 
52,424 29 



sources, 



$203,915 19 

13,722 77 

3,744 88 

$221,382 84 
337,564 39 

$558,947 23 



Disbursements. 
Cash paid for matured claims, . 
Deduct salvage and reinsurance, 

Net cash paid for matured claims, . 
Cash dividends paid, 



S3,981 53 
6,600 12 



$77,381 41 
10,000 00 



294 



THE NEW YORK PLATE-GLASS INSURANCE CO. 



Cash paid for commissions and brokerage, . . . . 
for salaries and expenses of officers and employees, 
for taxes and fees, . 
for rent, .... 
for legal expenses, . 
for furniture and fixtures, 
for advertising and printing, 
for incidentals, . 



Total disbursements, 



Balance, $346,795 54 



f57,983 18 

36,858 49 

9,179 77 

3,575 92 

316 10 

56 87 

2,054 36 

14,745 59 

$212,151 69 



Invested in the following : — 



Assets as per Ledger Accounts. 

Cost value of stocks and bonds owned (schedule A) , 

Cash in company's office, 

Cash deposited in bank, 



$336,567 24 
2,005 86 
8,222 44 



Total, $ 346,795 54 



Other Assets. 

Market value of stocks and bonds over cost, . 
Gross premiums in course of collection, . 

Total assets, per company's books, . 



15,157 76 
38,521 03 

|400,474 33 



Items not admitted. 
Deduct special deposits in other States, . 



12,525 00 



Balance, $387,949 33 

Liabilities. 

Claims adjusted or in process, .... $5,893 24 

Unearned premiums on outstanding risks, . 105,465 32 

Dividends to stockholders unpaid, not due, . 5,000 00 

Due and accrued for rent, salaries, etc., . . 582 85 

Return premiums, 820 37 

Commissions and brokerage, .... 12,519 34 

Gross liabilities, except capital, . . $130,281 12 

Deduct liability on special deposits, . . 186 93 



Surplus as regards policy holders, 
Paid-up capital, .... 



130,094 19 

$257,855 14 
100,000 00 



Surplus over capital, $157,855 14 



THE NEW YORK PLATE-GLASS INSURANCE CO. 



295 



Risks and Premiums. 
Plate Glass. 

Premiums. 

Risks outstanding Dec. 31, 1897, . . . $9,513,263 00 $221,702 51 
Risks written during 1898, .... 13,181,454 00 259,924 19 



Total, 

Deduct risks expired and terminated, 

In force at end of } T ear, 



. $22,694,717 00 $481,626 70 
. 11,706,877 00 270,696 05 



. $10,987,840 00 f 210,930 65 



Miscellaneous. 

Premiums received from organization of company, 
Claims paid from organization of company, . 
Cash dividends declared from organization of company 
Claims incurred during the year, .... 
Company's stock owned by directors, 



$1,400,317 00 

436,895 00 

42,500 00 

88,798 00 

51,900 00 



Schedule A. 

Slocks and Bonds owned by the Company. 

Cost Value. Market Value. 

Chicago, Milwaukee & St. Paul R.R. stock, . $25,700 00 $33,200 00 

Central Park, North & East River R.R. stock, . 16,188 49 18,250 00 

Rensselaer & Saratoga R R. stock, . . . 18,300 00 18,500 00 

New York Mutual Gas Light Co. stock, . . 25,210 00 31,000 00 

Consolidated Gas Co. stock, .... 40,237 50 39,000 00 

Wagner Palace Car Co. stock, .... 7,925 00 9,000 00 

N. Y. Central & Hudson River R.R. stock, . 23,562 50 24,800 00 

Chicago & Northwestern R.R. stock, . . 12,962 50 14,200 00 

United States bonds, 125,625 00 118,350 00 

Virginia State bonds 10,687 50 12,525 00 

Laclede Gas Light Co. bonds, .... 8,756 25 10,700 00 

Edison Electric Illuminating Co. bonds, . . 10,775 00 11,200 00 

N. Y., Susquehanna & Western R.R. bonds, . 10,637 50 11,000 00 



$336,567 24 $351,725 00 



296 THE OCEAN ACCIDENT AND GUARANTEE CORP'N, LOOTED. 



UNITED STATES BRANCH OF "THE OCEAN ACCIDENT AND 
GUARANTEE CORPORATION (LIMITED), 11 OF LONDON, 

ENGLAND. 

Deposit Capital, $200,000. 

Oscar Ising, Resident Manager. 
Office, 346 Broadway, New York, N. Y. 

Income. 
Premiums outstanding Dec. 31, 1897, . . $500 00 

Premiums on risks written or renewed, . . 159,385 35 

Total, $159,885 35 

Less reinsurance and return premiums, . . 125 00 

Net cash premiums received, . . . $159,760 35 

Interest and dividends received from all sources, . . . 14,899 79 

Cash recovered on losses paid, 54 41 

Received from all other sources, 30 90 

Total income, $174,745 45 

Net or ledger assets Dec. 31, 1897, $432,975 22 ) 539 960 36 

Increase in State deposits, . 106,985 14 S 

Total, $714,705 81 

Disbursements. 

Cash paid for matured claims, .... $38,469 84 
Deduct salvage and reinsurance, . . . 3,670 04 

Net cash paid for matured claims, . . $34,799 80 

Cash paid for commissions and brokerage, .... 25,143 75 

for salaries and expenses of officers and employees, 10,728 15 

for taxes and fees, 2,726 94 

for rent, 2,778 00 

for legal expenses, 4,114 35 

for furniture and fixtures, 14 50 

for advertising and printing, 684 33 

for incidentals, 8,561 08 

Total disbursements, $89,550 90 

Balance, $625,154 91 

Invested in the following : — 

Assets as per Ledger Accounts. 
Cost value of bonds owned (schedule A), .... $596,604 21 
Cash in company^ office, 1,250 00 



THE OCEAN ACCIDENT AND GUARANTEE CORP'N, LIMITED. 297 

Cash deposited in bank, $24,350 86 

Bills receivable, 2,640 00 

Agents' debit balances, 309 84 

Total, $625,154 91 

Other Assets. 

Interest accrued, 2,662 50 

Market value of bonds over cost, 5,435 80 

Total assets, per company's books, $633,253 21 

Items not admitted. 

Cash not in control of trustees, . . . $25,600 86 

Agents' debit balances, 309 84 

Bills receivable, 2,640 00 

Total, 28,550 70 

Total admitted assets, $604,702 51 

Deduct special deposits in other States* 111,625 00 

Balance, . . $493,077 51 

Liabilities. 
Unearned premiums on outstanding risks, . $78,004 76 
Deduct liability on special deposits, . . . 7,993 75 

70,011 01 

Surplus as regards policy holders, $423,066 50 

Deposit capital, 200,000 00 

Surplus over capital, $223,066 50 

Risks and Premiums. 

Credit. 

Premiums. 

Risks outstanding Dec 31, 1897, . . . $2,335,000 00 $121,497 49 

Risks written during 1898, .... 2,841,000 00 162,035 35 

Total $5,176,000 00 $283,532 84 

Deduct risks expired and terminated, . . 2,445,000 00 127,523 32 

In force at end of year, .... $2,731,000 00 $156,009 52 

Miscellaneous. 

Claims incurred during the year, $34,800 00 



298 THE STANDARD LIFE AND ACCIDENT DTSUBANGE CO. 



Schedule A. 
Bonds owned by the Company. 



New York city bonds, 
United States bonds, . 
Massachusetts State bonds, 
Chesapeake & Ohio R.R. bonds, 
Central R.R. of New Jersey bonds, 
Chicago, Milwaukee & St. Paul R.R 
Ohio & Mississippi R.R. bonds, 
Union Pacific R.R. bonds, . 
Erie & Pittsburgh R.R. bonds, . 
Wilmington & Weldon R.R. bonds, 



bonds, 



Cost Value. 

$208,812 37 
143,009 38 
106,985 14 
16,200 00 
17,550 00 
13,415 00 
25,907 79 
23,812 50 
25,355 35 
15,556 68 



Market Value. 

$208,812 37 

143,875 00 

106,985 14 

17,550 00 

16,800 00 

14,105 00 

27,000 00 

26,312 50 

25,000 00 

15,600 00 



$596,604 21 $602,040 01 



"THE STANDARD LIFE AND ACCIDENT INSURANCE COMPANY," 

DETROIT, MICH. 

[Incorporated May 29, 1884. Commenced business Aug. 1, 1884.] 
Paid-up Capital, $200,000. 



D. M. Ferry, President. 



Income. 



Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total, 

Premiums now in course of collection, 

Entire premiums collected, 
Less reinsurance and return premiums, 

Net cash premiums received, 
Interest received on mortgages, 
Interest and dividends received from all 
Income from rents, .... 



Total income, .... 
Net or ledger assets Dec. 31, 1897, . 



E. A. Leonard, Secretary. 



Ace. and Emp. Liab. 

$236,624 22 
1,153,414 26 



f 1,390,038 48 

216,046 41 

$1,173,992 07 

186,810 04 



other sources, . 



$987,182 03 

18,863 31 

11,406 63 

670 70 

$1,018,122 67 
650,286 97 



Total $1,66S,409 64 



Disbursements. 

Cash paid for matured claims, .... 
Cash dividends paid, 



$540,509 88 
12,000 00 



THE STANDARD LIFE AND ACCIDENT INSURANCE CO. 299 

Cash paid for commissions and brokerage, .... $261,965 67 

for salaries and expenses of officers and employees, 94,567 56 

for medical examiner's fees, 2,552 00 

for inspections, 11,357 60 

for taxes and fees, 34,594 51 

for rent, 7,854 55 

for legal expenses, 6,291 99 

for real estate expenses, 399 20 

for furniture and fixtures, 650 07 

for advertising and printing, 10,034 16 

for incidentals, 23,835 33 



Total disbursements, $ 1,006,612 52 



Balance, $661,797 12 

Invested in the following : — 



Assets as per Ledger Accounts 

Cost value of real estate, 

Loans on mortgage of real estate (first liens), 
Cost value of bonds owned (schedule A), 

Cash in company's office, 

Cash deposited in bank, 

Taxes paid on mortgage, 



$68,438 93 

230,237 50 

286,018 10 

18,084 50 

58,990 09 

28 00 



Total, $661,797 12 

Other Assets. 

Interest due and accrued, 12,009 71 

Market value of bonds over cost, 2,925 00 

Gross premiums in course of collection, 216,046 41 



Total assets, per company's books, $892,778 24 

Items not admitted. 

Taxes paid on mortgage, $28 00 

Cuyahoga County bonds in suit, . . . 27,875 00 

Total 27,903 00 



Total admitted assets, $864,875 24 

Deduct special deposits in other States, 65,125 00 



Balance, $799,750 24 

Liabilities. 

Claims adjusted or in process, .... $20,952 00 
Claims disputed or resisted, .... 97,500 00 



300 THE STANDARD LIFE AND ACCIDENT INSURANCE CO. 



Unearned premiums on outstanding risks, . $436,445 35 
Commissions and brokerage, .... 52,877 41 

Gross liabilities, except capital, . . $607,774 76 
Deduct liability on special deposits, . . 60,929 87 

Surplus as regards policy holders, 

Paid-up capital, 



$546,844 89 

$252,905 35 
200,000 00 



Surplus over capital, f 52,905 35 



Risks and Premiums. 
Accident and Employers' 1 Liability. 

Premiums. 

Risks outstanding Dec. 31, 1897, . . $118,282,300 00 $898,445 32 



Risks written during 1898, 



Total 

Deduct risks expired and terminated, 

In force at end of year, 



176,167,733 00 1,153,414 26 



£294,450,033 00 $2,051,859 58 
171,910,900 00 1,178,968 89 



$122,539,133 00 $872,890 69 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$8,998,435 00 

4,489,085 00 

60,000 00 

540,510 00 

138,000 00 



Schedule A. 



Bonds owned by the 



Muskegon city bonds, 

Pl3 T mouth water bonds, 

Nashville trunk sewer bonds, . 

Santa Fe, Prescott & Phoenix R.R. bonds 

Menominee school bonds, 

Cuyahoga County bonds, . 

Hamilton County bonds, . 

Stanton city bonds, .... 

Sioux City bonds, .... 

Dubuque refunding bonds, 

Salt Lake City bonds, 

Jackson school bonds, 

Big Rapids public improvement bonds, 

Michigan State bonds, 



Company. 

Cost Value. 

$10,710 00 

26,250 00 

50,000 00 

17,000 00 

11,390 00 

27,375 00 

25,625 00 

10,650 00 

10,250 00 

25,750 00 

20,400 00 

9,773 10 

12,765 00 

28,080 00 



Market Value. 

$11,000 00 
25,500 00 
50,000 00 
18,500 00 
11,800 00 
27,875 00 
26,750 00 
10,500 00 
10,250 00 
25,750 00 
20,400 00 
9,773 10 
12.765 00 
28,080 00 



$286,018 10 $288,943 10 



THE TRAVELERS INSURANCE CO. 301 



« THE TRAVELERS INSURANCE COMPANY," HARTFORD, CONN. 

[Accident Department.] 

[Incorporated June 17, 1863. Commenced business April 1, 1864.] 

Paid-up Capital, $1,000,000. 

James G. Batterson, President. John E. Morris, Secretary. 

Income. 

Acc. and Emp. Liab. 

Premiums on risks written or renewed, . . $3,096,809 01 
Less reinsurance and return premiums, . . 112,413 05 

Net cash premiums received, . . . $2,984,395 96 

Interest and dividends received from all sources, . . . 168,314 38 
Received from all other sources, viz. : profit and loss, . . 35,953 84 

Total income, $3,188,664 18 

Net or ledger assets Dec. 31, 1897, 3,778,974 45 

Total, $6,967,638 63 

Disbursements. 

Cash paid for matured claims, .... $1,262,381 02 
Deduct salvage and reinsurance, . . . 4,914 36 

Net cash paid for matured claims, . . $ 1,257,466 66 

Adjustment and claim expenses, 117,883 92 

Cash dividends paid, 50,000 00 

Cash paid for commissions and brokerage, .... 824,457 71 

for salaries and expenses of officers and employees, 197,762 37 

for medical examinees fees, 32,855 85 

for inspections, . 12,141 11 

for taxes, fees and United States revenue, . . 91,923 37 

• for rent, 29,627 88 

for legal expenses, 2,973 30 

for furniture and fixtures, 1,620 63 

for advertising, printing and stationery, . . . 52,069 78 

for losses on securities sold, 270 00 

for incidentals, 31,804 28 

Total disbursements, $2,702,856 86 

Balance, $4,264,781 77 

Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of stocks and bonds owned (schedule A), . $3,793,096 18 

Cash in company's office, 1,459 67 

Cash deposited in bank, 470,225 92 

Total, $4,264,781 77 



302 



THE TRAVELERS INSURANCE CO. 



Other Assets. 

Interest accrued, 

Market value of stocks and bonds over cost, . 

Total assets, per company's books, . 



$42,107 39 
221,440 46 

. $4,528,329 62 



Items not admitted. 
Deduct special deposits in other States, . 



51,000 00 



Balance, $4,477,329 62 



Liabilities. 

Claims adjusted or in process, . 

known or reported, 

disputed or resisted, 
Unearned premiums on outstanding risk; 
Due and accrued for rent, salaries, etc., 
Special reserve, .... 

Gross liabilities, except capital, 
Deduct liability on special deposits, 

Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$24,500 00 
24,344 10 

486,101 55 

1,399,372 80 

85,000 00 

100,000 00 

$2,119,318 45 
51,000 00 



2,068,318 45 



. $2,409,011 17 
. 1,000,000 00 



$1,409,011 17 



Risks and Premiums. 

Accident and Employers' Liability. 
Risks outstanding Dec. 31, 1897, 



Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



Premiums. 

$360,288,233 00 $2,074,940 89 
576,472,474 00 3,096,809 01 



$936,760,707 00 $5,171,749 90 
570,676,205 00 3,069,836 93 



$366,084,502 00 $2,101,912 97 
1,163,500 00 4,665 96 



$364,921,002 00 $2,097,247 01 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$51,520,786 00 

22,464,597 00 

1,883,000 0O 

1,540,139 0O 

102,000 00- 



THE TRAVELERS INSURANCE CO. 



303 



Schedule A. 

Stocks and Bonds owned by the Company. 

Cost Value. Market Value- 
United States bonds, . . . . . . $13,500 00 $14,000 00 

Colorado State warrants, . . . . . 62,864 52 63,221 16 

Tennessee State bonds 23,700 00 23,226 0(> 

Johnson County, 111., bonds, .... 1,885 61 2,500 00 

Lucas Count}', Ohio, bonds, . . . . 51,000 00 51,000 00 

Hamblen County, Tenn., bonds, . . . 15,000 00 16,425 00 

Henderson County, N. C, bonds, . . . 55,900 00 55,900 00 

Llano County, Texas, bonds, .... 54,125 00 54,035 0G 

Montrose County, Col., bonds, .... 5,200 00 5,200 00 

Mesa County, Col., bonds 7,000 00 7,000 00 

Rio Arriba County, N. M., bonds, . . . 1,896 00 2,200 00 

School District No. 7, Cass County, N. D-.b'ds, 22,000 00 22,000 00 

Reidsville, N. C, town bonds, .... 25,000 00 25,000 00 

Durham, N. C, town bonds, .... 58,000 00 57,625 00 

Howard Township, Kan., bonds, . . . 20,441 43 27,300 00 

Paw Paw Township, Kan., bonds, . . . 6,813 50 9,100 00 

Winston Township, N. C, bonds, . . . 36,057 90 36,000 00 

Parsons, Kansas, city bonds, .... 20,000 00 22,400 00 

Lima, Ohio, city bonds, . . . . 15,980 00 16,000 00 

Richmond, Va., city bonds 53,377 50 56,160 00 

Salisbury, N. C, city bonds, .... 40,086 00 45,000 00 

Wilmington, N. C, city bonds, .... 46,800 00 46,800 00 

Fort Worth, Texas, city bonds, . . . 17,980 80 17,140 00 

Bastrop, Texas, city bonds, .... 15,525 00 15,525 00 

El Paso, Texas, city bonds 26,062 50 26,062 50 

Cartersville, Ga., city bonds, .... 24,375 00 25,000 00 

Dalton, Ga., city bonds, 17,675 00 17,675 00 

Cedar Rapids, Iowa, city warrants, . . . 25,981 82 25,981 82 

Council Bluffs, Iowa, city warrants, . . . 26,150 00 26,150 00 

New Orleans city certificates, .... 17,749 54 17,749 54 

Pittsburg, Cinn., Chic. & St. Louis R.R. bonds, 30,000 00 32,100 00 

Chicago, Burlington & Quincy R.R. bonds, . 24,000 00 31,840 00 

Montana Central R.R. bonds, .... 56,750 00 65,000 00 

Indiana & Lake Michigan R.R. bonds, . . 50,000 00 40,000 00 

Chicago & Northwestern R.R. bonds, . . 52,500 00 59,000 00 

Raleigh & Gaston R.R. bonds, .... 55,915 00 56,445 00 

Cleveland, Lorain & Wheeling R.R. bonds, . 52,625 00 53,500 00 

Houston, East & West Texas R.R. bonds, . 43,750 00 48,750 00 

Willmar & Sioux Falls R.R. bonds, . . . 52,500 00 55,562 50 

Union Pacific R.R. bonds, .... 92,375 00 105,125 00 

Southern Pacific of California R.R. bonds, . 50,500 00 52,500 00 

Cleveland, Ohio, Electric R.R. bonds, . . 50,450 00 52,000 00 

Hart., Manch. & Rockville Tram. Co. bonds, . 10,000 00 10,000 00 

West Chicago Street R'y Tunnel Co. bonds, . 50,500 00 50,500 00 

Chicago & North Shore Street R'y Co. bonds, 26,500 00 26,500 0G 



304 



UNION CASUALTY AND SUBETY CO. 



N. Y., N. H. & Hart. R R. Con. Deb. eert'g, 
Northwestern Telegraph Co. bonds, 
Galveston Wharf Co. bonds, 
1,200 shares Chicago, Burl. & Quincy R.R., 



1,000 

500 

4,813 

230 

2,000 

200 

266 

400 

500 

250 

368 

700 

501 

817 

348 

200 

140 

266 

50 

100 

730 

100 

500 

2,000 

2,000 

2,142 



Pitts., Fort Wayne & Chic. R.R , 
Illinois Central R.R., . 
Pennsylvania R.R , 
Union Pacific R.R., 
Chic, Milwaukee & St. Paul R.R. 
Chicago & Northwestern R.R., 
Chicago & Alton R.R., . 
Oswego & Syracuse R R., 
Central R.R. of New Jersey, 
Delaware & Hudson Canal Co., 
Far. & Mech. NU Bank, Hartford 
American Nat'l Bank, Hartford, 
City National Bank, Hartford, 
Phoenix National Bank, Hartford 
JEtna National Bank, Hartford, 
Mercantile Nat'l Bank, Hartford,* 
New Britain N"l B*k, New Britain 
Home National Bank, Meriden, 
Meriden National Bank, Meriden 
Nat'l Bank of Commerce, N. Y., 
Nat'l Shoe & Leather Bank, X. Y. 
St. Paul N"l B 7 k, St. Paul, Minn. 
Hartford Trust Co., Hartford, 
Western Union Telegraph Co., 
Northwestern Telegraph Co., 
Col. Valley Land Co , Denver, 



Cost Value. 

«83,272 50 
51,318 00 
50,000 00 

133,087 25 

173,250 00 
59,333 58 

277,955 17 
26,462 50 

215,884 7.3 
23,268 75 
28,706 25 
40,600 00 
53,437 50 
29,656 25 
48,806 87 
44,054 00 
55,101 75 

117,085 00 
44,261 62 
2,882 00 
17,540 00 
36,467 67 
6,050 00 
13,975 00 

110,125 00 
10,000 00 
49,878 15 

163,102 00 

106,842 50 

214,200 00 



Market Value. 
$108,125 00 

50,625 00 

50,000 00 

150,000 00 

175,000 00 

55,950 00 

295,397 87 

10,848 75 

300,237 50 

37,200 00 

45,220 00 

41,200 00 

48,750 00 

26,875 00 

41,216 00 

49,000 00 

,607 00 

104,576 00 

50,460 00 

2,700 00 

23,100 00 

33,250 00 

5,000 00 

20,500 00 

73,000 00 

6,800 00 

75,000 00 

186,500 00 

112,000 00 

214,200 00 



$3,793,096 18 §4,014,536 64 



" UNION CASUALTY AND SURETY COMPANY,"" ST. LOUIS, MO. 

[Incorporated Dec. 29, 1892. Commenced business April 18, 1893.] 
Paid-up Capital, $250,000. 



C. P. Ellerbe, President. 



Prem's outst'd'g Dec. 31, 1897, . 
PrerrTs on risks writ'n or reu'd, 

Total, 

Prem's now in course of coli'n, 

Entire premiums collected, 
Less reinsur. and return prem"s, 



John Greenough, Secretary. 
Income. 

Plate Glass. Steam Boiler. 

822,507 35 §11,519 27 
89,930 71 39,100 96 



$112,438 06 
19,427 10 

$93,010 96 
20,944 76 



$50,620 23 
10,991 46 

$39,628 77 
5,479 48 



Net cash prem"s received, . £7 2,066 20 $34,149 29 



$106,215 49 



* In liquidation. 



UNION CASUALTY AND SURETY CO. 305 

Ace. and Emp. Liab. 

Premiums outstanding Dec. 31, 1897, . . $240,739 77 
Premiums on risks written or renewed, . . 868,205 91 



Total, $1,108,945 68 

Premiums now in course of collection, . . 214,760 48 



Entire premiums collected, . . . $894,185 20 
Less reinsurance and return premiums, . . 177,854 58 

Net cash premiums received, . . . $716,330 62 

Interest received on mortgages, 9,985 82 

Interest and dividends received from all other sources, . . 11,129 62 

Profit on securities sold, 2,132 50 

Total income, $845,794 05 

Net or ledger assets Dec. 31, 1897, 503,683 47 

Total, $1,349,477 52 

Disbursements. 

( Accident and emp. liab., $ 420,821 90 

Cas.U paid for ma- <! Plate g i ass> § , , 2 8,129 42 

tured claims, . 1 steam boiler, ... 482 85 

$449,434 17 

Cash paid for commissions and brokerage, .... 244,043 09 

for salaries and expenses of officers and employees, 63,875 15 

for inspections, 12,528 71 

for taxes and fees, 21,629 20 

for rent, 4,560 92 

for legal expenses, 3,883 91 

for furniture and fixtures, 253 25 

for advertising and printing, 7,443 56 

for adjusting losses and claims, .... 20,529 28 

for incidentals, 11,842 98 



Total disbursements, $840,024 22 



Balance, $509,453 30 

Invested in the following: — 

Assets as per Ledger Accounts. 

Loans on mortgage of real estate (first liens), . . . $202,335 00 

Cost value of bonds owned (schedule A), .... 267,24000 

Cash in company's office, 2,427 81 

Cash deposited in bank, 37,450 49 

Total, $509,453 30 



306 UNION CASUALTY AND SURETY CO. 



Other Assets. 

Interest accrued, $3,384 59 

Market value of bonds over cost, 10,100 00 

Gross premiums in course of collection, 245,179 04 



Total assets, per company's books, $768,176 93 

Liabilities. 
Claims in pro- / Accident and 
cess of ad-< emp. liab., . $15,436 00 
justment, . C Plate glass, . 1,053 21 

316,489 21 

Claims resisted, accident and emp. liability, . 72,751 29 

Unearned premiums on outstanding risks, . 295,641 02 
Due and accrued for rent, salaries, etc., . . 540 61 

Commissions and brokerage, .... 62,434 77 

Gross liabilities, except capital, . . 447,856 90 



Surplus as regards policy holders, $320,320 03 

Paid-up capital, 250,000 00 



Surplus over capital, $70,321 03 

Risks and Premiums. 
Accident and Employers' Liability. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 

Total 

Deduct risks expired and terminated, 

In force at end of year, 

Plate Glass. 

Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 

In force at end of year, 



Premiums. 

.$82,609,447 00 $524,975 05 
. 120,258,200 00 868,205 91 



$202,867,647 00 $1,393,180 96 
. 119,692,640 00 897,477 35 



.$83,175,007 00 $495,703 61 



$1,554,257 00 $80,032 08 
2,209,069 00 89,930 71 



$3,763,326 00 $169,962 79 
1,963,222 00 98,898 87 



$1,800,104 00 $71,063 92 



Steam Boiler. 

Risks outstanding Dec. 31, 1897, . . . $10,938,845 00 $26,814 53 

Risks written during 1898, .... 11,055,45000 39,10096 

Total, $21,994,295 00 $65,915 49 

Deduct risks expired and terminated, . . 12,477,615 00 41,400 98 

In force at end of year, .... f 9,516,680 00 $24,514 51 



UNITED STATES CASUALTY CO. 



307 



Miscellaneous. 
Premiums received from organization of company, 
Claims paid from organization of company, . 
Claims incurred during the year, .... 
Company's stock owned by directors, 



. 84,357,198 00 

. 2,055,473 00 

449,434 00 

81,500 00 



Schedule A, 
Bonds owned by the Company. 

Cost Value 

St. Louis city bonds, . . 

St. Louis Brewing Association bonds, 
St. Louis United Elevator Co. bonds, 
Seattle Lake, Washington, waterway bonds, 



Market Value. 

$250,000 00 $260,000 00 

15,840 00 16,000 00 

400 00 400 00 

1,000 00 1,000 00 



$267,240 00 $277,400 00 



"UNITED STATES CASUALTY COMPANY," NEW YORK, N. Y. 

[Incorporated May 2, 1895. Commenced business May 3, 1895.] 

Paid-up Capital, $300,000. 

James W. Hinkley, President. Edson S. Lott, Secretary. 



Income. 

Ace. and Emp. Liab. Steam Boiler. 

Prem's outst'efg Dec. 31, 1897, . $87,883 84 $7,034 12 

Prem's on risks written or ren'd, 944,046 09 36,496 74 



Total, $1,031,929 93 

Prem's now in course of colPn, 94,060 35 



Entire premiums collected, $937,869 58 
Less reinsur. and return prem's, 267,317 42 



Premiums outstanding Dec. 31, 1897, 
Premiums on risks written or renewed, 



Total, 

Premiums now in course of collection, 



Entire premiums collected, 
Less reinsurance and return premiums, 
Net cash premiums received, . 



$43,530 86 
4,688 45 

$38,842 41 
12,548 90 



Net cash premiums ree'd, . $670,552 16 $26,293 51 



Sprinkler. 

$6,564 75 

39,724 47 

$46,289 22 

2,541 99 

$43,747 23 

24,290 10 



$696,845 67 



19,457 13 



308 



UNITED STATES CASUALTY CO. 



Interest and dividends received from all sources, 
Profit on securities sold, 



f 20,003 87 
25 00 



Total income, $737,231 67 

Net or ledger assets Dec. 31, 1897, 690,194 49 

Total, $1,427,426 16 



Disbursements. 

Cash paid for / Accident and emp. liab., . 
mature d< Steam boiler, .... 



claims, . C Sprinkler, 



$239,940 96 
12,607 00 
14,892 27 



Cash paid for commissions and brokerage, .... 
for salaries and expenses of officers and employees, 

for inspections, 

for taxes and fees, 

for rent, 

for legal expenses, 

for furniture and fixtures, 

for advertising and printing, 

for miscellaneous, 



f267,44 
181,3ft 

90,722 98 

11/ 

J4 44 
8,845 85 
3,203 74 

11,917 28 
20,269 30 



Total disbursements, $609,646 04 



Balance, 



$817,780 12 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost value of real estate, 

Cost value of bonds owned (schedule A), 

Cash in company's office, 

Cash deposited in bank, 



Total, 

Deduct agents 1 credit balances, . . 

Total net or ledger assets, as per balance, 

Other Assets. 



Interest accrued, 

Gross premiums in course of collection, . 

Total assets, per company's books, . 

Items not admitted. 
Deduct special deposits in other States, . 



$5,000 00 

765,280 94 

21,155 10 

26,379 12 

$817,815 16 

35 04 



3,941 64 
100,302 21 

$922,023 97 
15,629 10 



Balance, 



$906,394 87 



UNITED STATES CASUALTY CO. 



309 



Liabilities. 

_ . ,. , ( k.o.0,. and emp. liab. 

Claims adjusted or \ gteam ^ _ 

in process, . . ( Spl . inklerj , 

Claims disput'd or resisted, ace. and emp. liab 
Unearned premiums on outstanding risks, 
Due and accrued for rent, salaries, etc., 
Due tor reinsurance, 
Commissions and brokerage, . 
Reserve for contingencies, 

Gross liabilities, except capital, 
Deduct liability on special deposits, 



Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$24,840 00 

150 00 

350 00 

65,025 00 

329,091 66 

1,420 83 

1,751 89 

25,075 55 

19,319 04 

$467,023 97 
7,183 15 



$459,840 82 

$446,554 05 
300,000 00 

$146,554 05 



Risks and Premiums. 

Accident and Employers' Liability. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, . 

Net amount in force, . 



$198,512,550 00 

405,485,480 00 

$603,998,030 00 

411,233,350 00 

$192,764,680 00 

85,000 00 



Premiums. 

$522,544 41 
944,046 09 

1,466,590 50 
896,206 24 

$570,384 26 
1,214 39 



$192,679,680 00 $569,169 87 



Burglary. 

Risks outstanding Dec. 31, 1897, . . . $2,790,785 00 $17,790 23 

Deduct risks expired and terminated, . . 2,548,826 00 15,780 10 

In force at end of year, .... $241,959 00 $2,010 13 

Deduct amount reinsured, .... 241,959 00 2,010 13 



Steam Boiler. 

Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 

Total, 

Deduct risks expired and terminated, 



. $7,457,750 00 
. 9,997,070 00 

.$17,454,820 00 
. . 8,744,070 00 



$26,149 36 
36,496 74 

$62,646 10 
25,742 90 






In force at end of year, 



5,710,750 00 $36,903 20 



310 



UNITED STATES FIDELITY AND GUARANTY CO. 



Sprinkler. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total 

Deduct risks expired and terminated, 

In force at end of year, 



$1,744,750 00 
3,133,859 00 

$4,878,609 00 
3,165,684 00 



Premiums. 

f24,664 97 
39,724 47 

$64,389 44 
42,384 25 



$1,712,925 00 $22,005 19 



Miscellaneous. 

Premiums received from organization of company, 
Claims paid from organization of company, . 
Claims incurred during the year, . 
Company's stock owned by directors, . . 



$2,351,422 00 
812,645 00 
262,505 00 
119,400 00 



Schedule A. 
Bonds owned by the Company. 

Cost Value. 



United States bonds, 
New York city bonds, 



Market Value. 



$125,033 13 $125,033 13 
640,247 81 640,247 81 



$765,280 94 $765,280 94 



"THE UNITED STATES FIDELITY AND GUARANTY COMPANY," 

BALTIMORE, MD. 

[Incorporated March 19, 1896. Commenced busineea Aug. 1, 1896.] 
Paid-tjp Capital, $1,000,000. 

John R. Bland, President. George R. Callis, Secretary. 

Income. 

Fidelity and Surety. 

Premiums outstanding Dec. 31, 1897, . . $31,120 85 
Premiums on risks written or renewed, . . 452,375 61 

Total $483,496 46 

Premiums now in course of collection, . . 111,676 90 

Entire premiums collected, . . . $371,819 56 
Less reinsurance and return premiums, . . 43,849 93 

Net cash premiums received, . . . $327,969 63 

Interest received on mortgages, 60 00 

Interest and dividends received from all other sources, . . 29,088 32 

Profit on securities sold, 460 75 

Received from mercantile and attorneys 1 subscriptions, . . 14.738 35 

Total income, $372,317 05 



UNITED STATES FIDELITY AND GUARANTY CO. 311 

Net or ledger assets Dec. 31, 1897, . . . $857,920 40 
Increase of capital during the year, . . 194,140 00 
Paid into surplus fund during the year, . . 183,000 00 
Increase cash collateral deposits, . . . 370 31 

$1,235,430 71 



Total, 11,607,747 76 

Disbursements. 
Cash paid for matured claims, .... $31,787 13 
Deduct salvage and reinsurance, . . . 1,264 68 

Net cash paid for matured claims, . . $30,522 45 

Cash paid for commissions and brokerage, .... 68,420 68 

for salaries and expenses of officers and employees, 104,566 04 

for taxes and fees, 22,665 92 

for rent, 2,828 33 

for legal expenses, 10,366 46 

for mercantile and attorneys 1 department, . . 37,500 38 

for advertising and printing, 24,143 80 

for furniture and fixtures charged off, . . . 11,247 73 

for postage, revenue, expressage, etc., . . . 12,713 84 

for incidentals, development, etc., .... 28,480 28 



Total disbursements, $353,455 91 



Balance, $1,254,291 85 



Invested in the following : — 



Assets as per Ledger Accounts 

Cost value of real estate, ...... 

Loans on mortgage of real estate (first liens), 

Loans on collateral security (schedule A), 

Cost value of stocks and bonds owned (schedule B), 

Cash in company's office, 

Cash deposited in bank, 

Furniture and fixtures, 

Advances on real estate secured by deeds, 



$69,693 67 

3,500 00 

63,300 00 

808,740 25 

39,796 01 

242,333 90 

100 00 

26,828 02 



Total, $1,254,291 85 

Other Assets. 

Interest due and accrued, 10,523 09 

Market value of stocks and bonds over cost, .... 40,395 08 

Gross premiums in course of collection, . .... 111,67690 



Total assets, per company's books, $1,416,886 92 



312 



UNITED STATES FIDELITY AND GUARANTY 



Items not admitted. 
Furniture and fixtures, 1 100 00 

Total admitted assets, §1,416,786 92 

Deduct special deposits in other States, 160,052 50 

Balance, fl, 250,731 42 



Liabilities. 
Claims adjusted or in process, . 

known or reported, 

disputed or resisted, 
Unearned premiums on outstanding risks, 
Commissions and brokerage, . 
Collateral held for security of risks, 

Gross liabilities, except capital, 
Deduct liability on special deposits, 

Surplus as regards policy holders, 
Paid-up capital, .... 



Surplus over capital, 



$3,884 19 

5,065 00 

4,521 11 

191,438 41 

19,010 37 

29,019 99 

1252,939 07 
35,247 97 



217,691 10 

. $1,039,048 32 
. 1,000,000 00 



$39,043 32 



Risks and Premiums. 
Fidelity and Surety. 

Premiums. 

Risks outstanding Dec. 31, 1897, . . $25,746,775 00 $97,455 43 

Risks written during 1898, . . . 127,282,088 00 452,375 61 

Total 

Deduct risks expired and terminated, 

In force at end of year, 



$153,028,863 00 $549,831 04 
28,364,204 00 166,954 23 



$124,664,659 00 $382,876 81 



Miscellaneous. 

Premiums received from organization of company, 
Claims paid from organization of company, . 
Claims incurred during the year, . 
Company's stock owned by directors, 



$518,487 00 

32,077 00 

43,993 00 

174,600 00 



Schedule A. 
Securities held as Collateral. 

Market Value. Amount Loaned. 

Charleston & W. C. R R. bonds, . . . £27,810 00 $24,000 00 

Annapolis & Baltimore R.R. bonds, . . 3,090 00 

Charleston & W. C. R.R. bonds, . . . 33,990 00 

10 shares Guardian Trust & Deposit Co., . 1,610 00 

8 shares Fidelity & Deposit Co. of Aid., . 1,372 00 



2,250 00 
30,000 00 

2,000 00 



UNITED STATES GUARANTEE CO. 



313 



Market Value. Amount Loaned. 



Brush Electric Co. bond, . 

60 shares Easton, Md , National Bank, 

Wilmington & Weldon R.R. cert's, . 



Schedule B. 

Stocks and Bonds owned by the 



67 shares Nat'l Bank of Commerce, Bait., 

Baltimore city bonds, 

New York city bonds, 

United States bonds, .... 

State of Maryland bonds, . 

Union Pacific R.R. bonds, . 

State of Virginia bonds, . 

City of Montgomery, Ala., bonds, . 

Baltimore & Ohio R.R. receiver's cert's, 

City of Staunton, Va., bonds, . 

City of Findlay, Ohio, bonds, . 

City of Columbus, Ohio, bonds, 



$1,050 00 
2,700 00 
3,186 00 



Company. 

Cost Value. 

$1,139 00 

320,269 25 

103,628 09 

155,317 95 

40,021 45 

23,062 50 

46,402 80 

26,848 46 

50,263 70 

10,011 50 

8,601 11 

23,174 44 



$1,050 00 
2,000 00 
2,000 00 



$74,808 00 $63,300 00 



Market Value. 

§1,147 38 

343,414 00 

104,875 00 

163,750 00 

40,021 45 

25,750 00 

51,450 00 

26,437 50 

50,000 00 

10,500 00 

8,580 00 

23,210 00 



$808,740 25 $849,135 33 



"UNITED STATES GUARANTEE COMPANY," NEW YORK. 

[Incorporated Jan. 18, 1890. Commenced business Jan. 30, 1890.] 
Paid-up Capital, $250,000. 

Edward Rawlings, President. Daniel J. Tompkins, Secretary. 



Income. 
Premiums outstanding Dec. 31, 1897, . . $8,548 48 

Premiums on risks written or renewed, . . 122,767 30 

Total $131,315 78 

Premiums now in course of collection, . . 9,173 29 

Entire premiums collected, . . . $122,142 49 
Less reinsurance and return premiums, . . 36,679 17 

Net cash premiums received, . . . 

Interest received on mortgages, 

Interest and dividends received from all other sources, . 

Total income, 

Net or ledger assets Dec. 31, 1897, 



$85,463 32 

25 85 

12,834 64 

$98,323 81 
440,714 05 



Total, . 



$539,037 86 



314 UNITED STATES GUARANTEE CO. 



Disbursements. 
Cash paid for matured claims, .... $28,241 G9 
Deduct salvage and reinsurance, . . . 8,434 80 

Net cash paid for matured claims, . . f 19,806 89 

Cash dividends paid, . • 15,000 00 

Cash paid for commissions and brokerage, .... 12,422 65 

for salaries and expenses of officers and employees, 25,564 58 

for inspections, 1,284 53 

for taxes and fees, ', 1,405 80 

for rent 3,452 38 

for legal expenses . 1,111 35 

for advertising and printing, 4,150 55 

for incidentals, 8,237 51 

Total disbursements, $92,436 24 

Balance, . $446,601 62 

Invested in the following : — 

Assets as per Ledger Accounts 

Cost value of real estate, $1,724 28 

Leans on mortgage of real estate (first liens), . . . 100 00 

Cost value of stocks and bonds owned (schedule A), . 372,054 09 

Cash in company's office, 468 44 

Cash deposited in bank, 70,768 08 

Agents' debit balances, 1,486 73 

Total, $446,601 62 

Other Assets. 

Interest accrued, ......... 3,764 23 

Gross premiums in course of collection, 7,866 79 



Total assets, per company's books, $458,232 64 

Items not admitted and Depreciation. 

Agents' debit balances, $ 1,486 73 

Depreciation from cost of assets, . . . 3,254 09 

Total, 4,740 82 



Total admitted assets, $453,491 82 

Liabilities. 
Claims adjusted or in process, .... $25,688 24 
Unearned premiums on outstanding risks, . 47.190 23 



UNITED STATES GUARANTEE CO. 



315 



Due and accrued for rent, salaries, etc., . 
Return premiums and reinsurance, . 
Commissions and brokerage, . 

Gross liabilities, except capital, 

Surplus as regards policy holders, . 
Paid-up capital, 



$575 00 

350 33 

1,044 28 



Surplus over capital, . 



$74,848 13 

$378,643 69 
250,000 00 

$128,643 69 



Risks and Premiums. 
Fidelity. 



Risks outstanding Dec. 31, 1897, 
Risks written during 1898, 



Total 

Deduct risks expired and terminated, 

In force at end of year, 
Deduct amount reinsured, 

Net amount in force, . 



.$21,582,790 00 
. 28,726,178 00 



Premiums. 

1116,511 94 
122,767 30 



. $50,308,968 00 $239,279 24 
. 25,351,474 00 129,277 60 



.$24,957,494 00 $110,001 64 
. 3,746,200 00 16,743 63 



.$21,211,294 00 $93,258 01 



Miscellaneous. 

Premiums received from organization of company, 

Claims paid from organization of company, . 

Cash dividends declared from organization of company, 

Claims incurred during the year, 

Company's stock owned by directors, .... 



$784,999 00 

250,118 00 

105,000 00 

22,511 00 

42,700 00 



Schedule A. 

Stocks and Bonds owned by the Company. 

Cost Value. Market Value. 

Western Union Telegraph Co. stock, . . $25,187 50 $28,800 00 

N. Y., Lackawanna & Western R.R. stock, . 11,400 00 12,500 00 

St Paul, Minn. & Manitoba R.R. stock, . . 11,100 00 17,500 00 

New York city bonds, 113,412 84 103,800 00 

United States bonds, 144,706 25 139,500 00 

Brooklyn city bonds, ... . 66,247 50 66,700 00 



$372,054 09 $368,800 00 



ASSESSMENT CORPORATIONS. 



LIFE AND CASUALTY. 



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K 







ASSESSMENT LIFE AND CASUALTY 

COMPANIES. 



Abstracts of Statements Dec. 31, 1898. 



SUMMARY OF STATEMENTS RECEIVED. 



"THE BANKERS' LIFE ASSOCIATION OF MINNESOTA," 

ST. PAUL, MINN. 

[Incorporated Aug. 6, 1880. Commenced business Aug. 6, 1880.] 

Cortlandt M. Taylor, President. Douglas Putnam, Secretary. 

Income during 1898. 

Membership fees, $16,046 92 

First year's assessments (expense), 5,881 99 

Subsequent years' assessments (expense, $66,567.63 ; mortu- 
ary, $271,141.92 ; emergency, $32,814.25), . . . . 370,523 80 

Interest, 28,079 06 

All other sources, 272 93 

Total income $420,804 70 

Balance on nand Dec. 31, 1897, 779,369 09 

Mortuary fund, $81,699 40 

Emergency fund, 641,794 57 

Expense fund, 55,875 12 

Total, $1,200,173 79 



Disbursements during 1898. 

Death claims, $277,000 00 

Guaranty payments returned to beneficiaries, . 1,769 00 

Total paid to members $278,769 00 

Commissions to agents (new business), . . $19,520 12 

Commissions for collecting assessments, . . 2,750 84 

Salaries and allowances of managers and ag'ts, 8,429 30 

of officers, 14,319 96 

and other compensation of office emp., 8,886 38 

Medical examiner's fees, 2,831 37 

Taxes and fees, 640 48 

Rent, $2,760.30; legal expenses, $2,884.90, . 5,645 20 

Advertising and printing, 5,086 28 

Stamps, 9,093 40 

Agents' expenses, 1,939 85 



326 THE BANKERS' LIFE ASSOCIATION OF MINNESOTA. 



Actuarial service, 
Incidentals, .... 
Total expenses, . 

Total disbursements, . 

Balance on hand Dec. 31, 1898, 

Mortuary fund, .... 

Emergency fund, 

Expense fund, .... 



f 1,350 20 
1.701 33 



$82,194 71 
$360,903 71 



$839.21' 



$78,969 72 

,746 39 

56,493 97 



Invested in the following : — 

Assets as per Ledges Accounts 

Loans secured by pledge of bonds, stock-, etc., 

Book value of bonds owned 

('ash in office, ....... 

Cash in bank, 

Special deposit in Missouri, .... 
St. Paul city certificates of iudebtedne- 

Ledger assets, as per balance, . 

Non-Ledges Assets. 



•40, 
637 

124 03 
121 

I fin 
40,000 00 

$839,210 08 



Interest accrued, 
Market value of bonds over cost, 
Guaranty trust fund notes, 
Assessments paid in advance, . 
Total non-ledger assets, . 



- 21 25 
14,000 00 

55,918 25 
125 



72,362 04 



Gross assets, $911,572 12 



Deduct Assets not admitted. 
Loans in excess of collateral security, 



Total admitted assets, 



LlABILITIK-. 



Advance assessments, 
Balance, 



6,000 00 
$905,572 12 



122 54 

$905,449 58 



Unmatured Mortuary and Disability Liahiliti 

Claims in process of adjustment, . . . $6,000 00 

resisted, 2,000 00 

reported, not in process, . . . 10,000 00 

Total, $18,000 00 



Funds called for. 
Assessment issued, not yet due, 



$56,848 42 



bankers' LIFE INS. CO. OF THE city OF NEW YORK. 327 



Business of 1898. 

Total Business. Mass. Business. 

Number. Amount. Number. Amount. 



In force January 1, . 
Written during the year, . 


12,271 
1,083 


$24,542,000 00 
2,166,000 00 


68 
6 


$136,000 00 
12,000 00 


Total, .... 
Ceased during the year, . 


13,354 
1,264 


$26,708,000 00 
2,528,000 00 


74 
5 


$148,000 00 
10,000 00 


In force December 31, 

Claims unpaid January 1, . 
Claims incurred in 1898, . 


12,090 

9 
143 


$24,180,000 00 

$18,000 00 
286,000 00 


69 


$138,000 00 


Total 

Claims paid during theyear, 


152 
140* 


$304,000 00 
277,000 00* 


- 


- 


Balance, 
Deduc'ns by compromising, 


9 


$21,000 00 
3,000 00 


- 


- 


Claims unpaid Dec. 31, 


9 


$18,000 00 


— 


- 



"BANKERS' LIFE INSURANCE COMPANY OF THE CITY OF 
NEW YORK," NEW YORK, N. Y. 

[Incorporated March 19, 1869. Commenced business March 24, 1869.] 

Richard Morgan, President. Charles S. Gaubert, Secretary. 

Income during 1898. 

First year's assessments (expense, $122,610.23; mortuary, 

$8,920) $131,530 23 

Subsequent years 1 assessments (expense, f 32,159. 82 ; mortu- 
ary, $112,038.20 ; emergency, $29,758.94), . . . . 173,956 96 

Interest, 6,857 80 

Advances to agents repaid, 2,356 69 

Advance payment, 915 70 

All other sources, . 100 00 

Total income, $315,717 38 

Balance on hand Dec. 31, 1897, 191,844 14 

Mortuary and disability fund, .... $22,598 02 

Emergency fund, 140,676 18 

Expense fund, 27,841 65 

Advance paymHs, $352 ; special relief, $376 . 29, 728 29 

Total, $507,561 52 

* Not including three claims, amounting to $6,000, in which the company has secured a dis- 
missal of the suit. 



328 bankers' lite es t s. co. of the city of new york. 



a^ts 



emp 



Disbursements during 
Death claims, 8122,857 ; disability claims, $894, 
Advance payments applied, 
Apportioned to members, 

Total paid to members, 
Com'ns to agents (new business, $70,029.24 

renewals, $12,608.73), 
Salaries and allowances of managers and 
of officers, .... 
and other compensation of office 
Medical examiner's fees, . 
Taxes and fees, .... 
Rent, $6,330.30; legal expenses, 8334.80 
Advertising and printing, 

Revenue tax, 

Traveling expenses, .... 

Postage, 

Furniture, 

Expenses defending claims, 
General office expense, . 

Total expenses, .... 



Total disbursements, 



Balance on hand Dec. 31, 1898, . 

Mortuary and disability fund, . 
Emergencv fund, .... 

Expense fund, 

Advance payments, .... 



1898. 

$123,751 00 

595 00 

1,397 83 



$82,037 97 

16,402 11 

4,608 15 

11,522 92 

9,051 84 

2,409 11 

6,665 10 

3,820 82 

2,682 60 

2,765 34 

1 73 

737 48 

180 00 

5,740 71 



$19,675 22 

171,711 29 

37,682 10 

1,523 20 



$125,743 83 



151,225 88 
$276,969 71 
$230,591 81 



Invested in the following: — 



Assets as per Ledger Accounts 

Loans on mortgages, 
Cost value of bonds owned, 
Cash in office, . 
Cash in bank, . 
Balances due from agents, 
Bills receivable, 

Ledger assets, as per balance, 



$75,000 00 
97,069 68 

37,913 00 

3 50 

4,299 58 

$230,591 81 



Non-Ledger Assets. 

Interest accrued, $1,867 55 

Market value of bonds over cost, . . . 4,315 82 

Furniture and fixtures, 2,828 60 

Total non-ledger assets, . 



Gross assets, 



9,011 97 
$239,603 78 



BANKERS' LIFE INS. CO. OF THE CITY OF NEW YORK. 329 



Deduct Assets not admitted. 

Furniture, fixtures and safes, .... $2,828 60 

Balances due from agents not secured by bonds, 15,042 50 

Bills receivable not secured, .... 4,299 58 

Special deposit in Missouri, .... 1 ,000 00 

Total, $23,170 68 



Total admitted assets, $216,433 10 

Liabilities. 

Disability claims unpaid, $811 00 

Salaries, rents, expenses, etc., due or accrued, 1,006 85 

Advance payments, 1,523 20 

Agents' credit balances, ..... 2,356 69 

Total, 5,697 74 

Balance, $210,735 36 

Unmatured Mortuary and Disability Liabilities. 

Claims in process of adjustment, . . . $2,000 00 

resisted, . 10,000 00 

reported, not in process, . . . 2,050 00 

Total, ..." f 14,050 00 

Funds called for. 
Assessment issued, not yet due, $21,274 59 

Business of 1898. 

Total Business. Mass. Business. 

Number. Amount. Number. Amount. 

In force January 1, . . 3,839 $10,774,041 00 364 $1,108,000 00 
Written during the year, . 1,530 5,121,000 00 170 484,000 00 

Total, .... 5,369 $15,895,041 00 534 $1,592,000 00 
Ceased during the year, . 1,091 3,659,492 00 131 350,500 00 

In force December 31, 4,278 $12,235,549 00 403 $1,241,500 00 

Claims unpaid January 1, . 4 $5,777 00* 

Claims incurred in 1898, . 43 135,335 00 1 ?6,000 00 



Total 47 $141,112 00 1 $0,000 00 

Claims paid during the year, 43 123,751 00 1 6,000 00 



Balance, ... 4 $17,361 00 

Deduc'ns by compromising, - 2,500 00 

Claims unpaid Dec. 31, 4 $14,861 00f 

* Including $1,705 for disability claims which have been partially paid. 
t Including $811 for disability claims which have been partially paid. 



330 BOSTON MUTUAL LIFE ASSOCIATION. 



BOSTON MUTUAL LIFE ASSOCIATION, BOSTON. 

[Incorporated Aug. 18, 1891. Commenced business Feb. 15, 1892.] 

John W. Wheeler, President. Edwakd A. Lyman, Secretary. 

Office, 17 Milk Street. 

Income during 1898. 

Annual dues, $3,663 50 

First year's assessments (expense), 12,231 05 

Subsequent years' assessments (expense, $7,532.65; mortu- 

•ary, $30,032.89; emergency, $12,091.85) 49,657 39 

Interest, 3,2- 

Registered letter fees, 138 05 

Total income, $68,977 64 

Balance on hand Dec. 31, 1897, 61,907 31 

Mortuary and disability fund, .... $18,105 76 

Emergency fund, 42,948 46 

Expense fund, 853 09 

Total, $ 130,884 95 

Disbursements during 1898. 

Death claims, £35,550 00 

Apportioned to members, . . . . . 606 42 

Total paid to members, .... $36,156 42 

Com'ns to agents (new business, $9,784.84; 

renewals, $390.34), $10,175 18 

Salaries and allowances of managers and ag'ts, 720 29 

of officers, 1,599 01 

and other compensation of office emp., 1,109 83 

Medical examiner's fees, 1.806 00 

Taxes and fees 1,768 83 

Rent, $1,324.99 ; legal expenses, $514.75, . 1,839 74 

Advertising and printing, .... 1,442 66 

Incidentals, 1,758 56 

Total expenses, 22,220 10 

Total disbursements 52 

Balance on hand Dec. 31, 1898, $72# B 43 

Mortuary and disability fund, .... ?12,398 42 

Emergency fund, 57,615 40 

Expense fund, 2,594 61 



BOSTON MUTUAL LIFE ASSOCIATION. 



331 



Invested in the following : — 

Assets as per Ledger Accounts 

Cost value of bonds owned, .... 

Cash in office, 

Cash in bank, 

Special deposit in Missouri, .... 

Ledger assets, as per balance, . 

Non-Ledger Assets. 

Interest accrued, $708 97 

Market value of bonds over cost, . . . 500 00 
Total non-ledger assets, .... 



Gross assets, 

Deduct Assets not admitted. 
Special deposit in Missouri, 

Total admitted assets, 

Liabilities. 
Advance assessments, 

Balance, 



$55,158 75 
6,643 60 
9,706 08 
1,000 00 

$72,508 43 



1,208 97 
$73,717 40 

1,000 00 
$72,717 40 

640 72 

$72,076 68 



Unmatured Mortuary and Disability Liabilities. 

Claims in process of adjustment, . . . $10,000 00 

Claims resisted, 2,000 00 

Total, $12,000 00 






Funds called for. 
Assessment issued, not yet due, . • . 



$4,743 94 



Business of 1898. 



In force January 1, . 
Written during the year, 



Total Business. Mass. Business. 

Number. Amount. Number. Amount. 

1,657 $3,548,750 00 1,563 $3,413,250 00 

709 1,088,500 00 174 329,000 00 



Total, . 
Ceased during the year, . 


2,366 
528 


$4,637,250 00 
1,017,700 00 


1,737 
259 


$3,742,250 00 
596,700 00 


In force December 31, 

Claims unpaid January 1, . 
Claims incurred in 1898, . 


1,838 

9 
10 


$3,619,550 00 

$18,000 00 
30,500 00 


1,478 

9 
9 


$3,145,550 00 

$18,000 00 
27,500 00 


Total, .... 
Claims paid during the year, 


19 
15 


$48,500 00 
35,550 00 


18 
15 


$45,500 00 
35,550 00 


Balance, 
Deduc'ns by compromising, 


4 


$12,950 00 
950 00 


3 


$9,950 00 
950 00 


Claims unpaid Dec. 31, 


4 


$12,000 00 


3 


$9,000 00 



332 COVENANT MUTUAL LIFE ASSOCIATION OF ILLINOIS. 



"COVENANT MUTUAL LIFE ASSOCIATION OF ILLINOIS," 

GALESBURG, ILL. 

[Incorporated Jan. 9, 1877. Commenced business Jan. 9, 1877.] 

W. II. SMOLLlNGER, President. B. F. Rexnmund, Secretary. 

Income during 1898. 

First year's assessments (expense, $136,997 ; mortuary, 

$51,067.49), $188,064 49 



Subsequent years 1 assessments (expense, $155 
ary, $975,927.81; emergency, $39,136.59 

$7,856.37), 

Interest, $15,210.23 ; rents, $6,343.50, 
All other sources, .... 



Total income, 
Balance on hand Dec. 31, 1897, 
Mortuary and disability fund, . 
Emergency fund, 
Expense fund, . . . . 
Deposit fund, . 
Advance assessments, 



168.52; mortu- 
deposit fund, 



1,178,089 29 

21,553 73 

1 61 

$1,388,082 12 
750,*19 54 



$252,041 . r .7 

346,197 95 

145,255 70 

7,133 39 

6,190 93 



Total, |2,144,901 66 



Disbursements during 1898. 



Death claims, $1,181,219.64 ; disability claims, 
$8,605.70, 

Apportioned to members, 
Total paid to members, 

Com'ns to agents (new business, $74,441.06 
renewals, $10,483.69), .... 

Commissions for collecting assessments, 

Salaries and allowances of managers and agts 

of officers, 

and other compensation of office emp. 

Directors and auditors, .... 

Medical examiner's fees, .... 

Taxes and fees, 

Rent, $13,005.89; legal expenses, $12,477.72 

Advertising and printing, 

Expenses and repairs on real estate, 

Losses on disposal of securities, 

Postage and express, .... 



$1,189,825 34 
12,660 71 



$1,202,486 05 



$84,924 75 

2,156 38 

34,406 39 

22,975 00 

37,904 66 

5,739 08 

13,055 50 

5,969 93 

25,483 61 

8,631 72 

2,743 63 

20,321 82 

10,989 58 



COVENANT MUTUAL LIFE ASSOCIATION OF ILLINOIS. 333 



Traveling expenses, .... 

Incidentals, 

Total expenses, . . . . 

Total disbursements, . 

Balance on hand Dec. 31, 1898,. 

Emergency fund, .... 

Expense fund, 

Deposit fund, 

Advance assessments, 

Invested in the following : — 



$16,790 38 
14,767 86 



$456,553 30 

157,446 72 

14,989 76 

6,565 54 



$306,860 29 
1,509,346 34 
$635,555 32 



Assets as per Ledger Accounts 

Cost value of real estate, . 
Loans on mortgages, 
Cost value of bonds owned, 
Cash in office, . 
Cash in bank, . 
Balances due from agents, 

Ledger assets, as per balance, 



$85,000 00 

20,000 00 

316,565 31 

29,165 69 

19,870 44 

164,953 88 

$635,555 32 



Non-Ledger Assets. 

Interest due, §3,095.05 ; accrued, $232.44, . $3,327 49 

Rents due, 2,076 00 

Market value of real estate over cost value, . 15,000 00 

Total non-ledger assets, .... 20,403 49 



Gross assets, $655,958 81 



Deduct Assets not admitted. 

Balances due from agents not secured by bonds, f 50,000 00 
Cost of ledger assets above present market 

value, 25,152 47 

Special deposit in Canada, .... 54,612 84 

Total, 129,765 31 



Total admitted assets, 



. $526,193 50 



Liabilities. 

Salaries, rents, expenses, etc , due or accrued, $ 2,541 65 

Advance assessments, 6,565 54 

Deposit fund, 14,989 76 

Total, 



24,096 95 



Balance, $502,096 55 



334 



THE FIDELITY MUTUAL LIFE ASSOCIATION. 



Unmatured Mortuary and Disability Liabilities. 



Claims adjusted, not yet due, . 
in process of adjustment, 
resisted, .... 
reported, not in process, 



Total, 

Deduct liability on special deposit, . 



Funds called for. 
Assessment issued, not yet due, 



.,250 00 

354,535 00 

27,000 00 

55,275 00 

8-470,060 00 
12,500 00 



$457,560 00 



1201,125 00 



Business of 1898. 



In force January 1, . 
Written during the year, . 

Total, .... 
Ceased during the year, 

In force December 31, 

Claims unpaid January 1, . 
Claims incurred in 1898, . 

Total, .... 
Claims paid during theyear, 

Balance, 
Deduc'ns by compromising, 

Claims unpaid Dec. 31, 



Total Business. 
Number. Amount. 

44,491 $86,562,075 00 
12,748 22,018,925 00 


Mass 

Number. 

1,633 
489 


BcsrsEss. 

Amount. 

$2,724,250 00 
747,000 00 


57,239 $108,581,000 00 
24,117 49,743,000 00 


2,116 
602 


$3,471,250 00 

1,017,37 


33,122 

227 
563 


$58,838,000 00 

$528,335 00 
1,176,225 00 


1,514 

7 
11 


$2,453,875 00 

$9,000 
17,250 00 


790 
574 


$1,704,560 00 
1,181,220 00 


18 
16 


$26,250 00 
19,900 00 


216 


$523,340 00 
53,280 00 


2 


$6,350 00 
3,350 00 


216 


$470,060 00 


2 


$3,000 00 



"THE FIDELITY MUTUAL LIFE ASSOCIATION,'" 
PHILADELPHIA, PA. 

[Incorporated Dec. 2, 1878. Commenced business Jan. 1, 1879.] 

L. G. Fouse, President. W. S. Campbell, Secretary. 

Income during 1898. 

First year's assessments (expense, £370,619. 63; mortuary, 
$26,925.89) £397,545 52 

Subsequent years' assessments (expense, $292,354.23 : mort- 
uary, $633,685.45 ; emergency, $455,031.90), . . . 1,351,07163 

Medical examiner's fees paid by applicant, .... 

Fees for alterations of policies, 



THE FIDELITY MUTUAL LIFE ASSOCIATION. 



335 



Interest, £47,581. 76; rents, $61,422. 46, . 
Profit on disposal of securities, 



$109,004 22 
3,500 00 



Total income, 
Balance on hand Dec. 31, 1897, 
Emergency fund, 
Expense fund, . 



51,894,251 21 
2,005,055 18 



. $1,998,885 85 
6,169 33 



Total $3,899,306 39 



Disbursements during 1898. 






Death claims, 

Advance payments returned, . 
Apportioned to members, 

Total paid to members, 
Com'ns to agents (new business, $221,064.90 

renewals, $73,167.78), . 
Commissions for collecting assessments, 
Salaries and allowances of managers and 

of officers, .... 

and other compensation of office 
Medical examiner's fees, . 
Taxes and fees, .... 

Expenses and repairs on real estate, 
Rent, $48,903.67 ; legal expenses, $8,003 
Advertising and printing, 
Losses on disposal of real estate, 

Postage, 

Traveling expenses, .... 

Incidentals, 

Total expenses, .... 



Total disbursements, 



Balance on hand Dec. 31, 1898, . 



Emergency fund, 
Expense fund, . 



ag'ts 
em p. 

81, 



$816,152 10 
26,608 36 
75,221 92 



$294,232 68 

7,849 09 

53,592 58 

28,140 11 

77,012 67 

41,194 56 

36,942 26 

10,477 05 

56,907 48 

26,674 29 

632 17 

12,752 63 

17,665 15 

9,014 49 



$917,982 38 



673,087 21 



$1,591,069 59 



. $2,308,236 80 



$2,307,250 44 
986 36 



Invested in the following : 



Assets as per Ledger Accounts 



Cost value of real estate, .... 

Loans on mortgages, .... 

secured by pledge of bonds, stocks, etc 

on policies, 

secured by liens on policies, . 



$1,170,215 75 
237,080 30 

76,287 16 
100,124 12 

67,862 04 



336 THE FIDELITY MUTUAL LIFE ASSOCIATION. 

Cost value of bonds and stocks owned, 1901,251 

Cash in office, 4,2- 

Cash in bank, 112,22148 

Balances due from agents, ....... 199,9*.", 

Bills receivable, 14,006 17 

All other assets, 28,085 64 

Total, $2,31 1,392 66 

Deduct balances due to agents and others, .... 3,155 86 

Ledger assets, as per balance, $2,308,236 80 

Non-Ledger Assets. 

Interest due, 83,316. 75; accrued, $7,146.80, . $10,463 55 

Rents accrued, 1,302 62 

Market value of real estate over cost value, . 102,400 33 

Market value of bonds and stocks over cost, . 3,373 22 

Total non -ledger assets, .... 



117,539 72 



Gross assets, f 2,425,776 52 

Deduct Assets not admitted. 

Supplies, printed matter and stationery, . . .705 64 

Balances due from agents not secured by bonds, 147,556 59 

Bills receivable not secured, .... 14,006 17 

Suspended banks, 445 80 

Total, 164,714 20 



Total admitted assets, 12,261,062 32 

Liabilities. 

Death claims due and unpaid, .... $10,000 00 

Salaries, rents, expenses, etc., due or accrued, 1,695 74 

Advance assessments, 1,576 26 

Policy reserve, .312 69 

Instalment claims, 11,600 16 

Total, 808,184 85 



Balance, $1,452,877 47 



Unmatured Mortuary and Disability Liabilities. 

Claims adjusted, not yet due, .... £15,00000 

in process of adjustment, . . . 104,319 90 

resisted, 41,000 00 

Total, $160,319 90 



GREENFIELD LIFE ASSOCIATION. 



337 



Business of 1898. 



In force January 1, . 
Written during the year, . 


Total Business. 
Number. Amount. 

31,653 $72,873,727 00 
7,568 16,167,162 00 


Mass. 
Number. 

1,559 
190 


Business. 
Amount. 

$3,876,878 00 
454,324 00 


Total,. 
Ceased during the year, . 


39,221 
5,953 


$89,040,889 00 
13,995,045 00 


1,749 
243 


$4,331,202 00 
612,603 00 


In force December 31, 

Claims unpaid January 1, 
Claims incurred in 1898, . 


33,268 

74 
324 


$75,045,844 00 

$183,498 00 
823,100 00 


1,506 

9 
19 


$3,718,599 00 

$15,000 00 
55,925 00 


Total,. 
Claims paid during the year, 


398 
344 

54 


$1,006,598 00 
816,152 00 


28 
23 


$70,925 00 
47,925 00 


Balance, 
Deduc'ns by compromising, 


$190,446 00 
20,126 00 


5 


$23,000 00 


Claims unpaid Dec. 31, 


54 


$170,320 00 


5 


$23,000 00 



GREENFIELD LIFE ASSOCIATION, GREENFIELD, MASS. 

[Incorporated June 28, 1895. Commenced business Oct. 8, 1895.] 

Eben A. Hall, President. Herbert O. Edgerton, Secretary. 

Income during 1898. 



First year's assessments (expense), 


. 


$14,298 68 


Subsequent years' assessments (expense, $5,765 


25 ; mortu- 




ary, $16,092.67 ; emergency, $6,178.37), . 




28,036 29 


Interest, 




409 93 


Advances to agents repaid, .... 




6,699 69 


All other sources, 




298 56 


Total income, 


$49,743 15 


Balance on hand Dec. 31, 1897, 




11,754 97 


Mortuary and disability fund, .... 


$120 77 




Emergency fund, 


10,895 24 




Expense fund, 


738 96 




Total, 


$61,498 12 



Death claims, 



Disbursements during 1898. 

$20,750 00 

Advance payments returned, .... 104 80 

Apportioned to members, 71 89 

k Total paid to members, .... 



$20,926 69 



338 



GREENFIELD LIFE ASSOCIATION. 



Com'ns to agents (new business, $5,258.14 

renewals, $459.44), .... 
Commissions for collecting assessments, 
Salaries and allowances of managers and ag'ts 

of officers, 

and other compensation of office emp. 
Medical examiner's fees, . 
Rent, $514.96 ; legal expenses, $186.14, 
Advertising and printing, . 
Agency expenses, 
Agents 1 advances, 
Claims expense, 
Postage, 
Incidentals, 

Total expenses, 



Total disbursements, . 

Balance on hand Dec. 31, 1898,. 

Mortuary and disability fund, . 
Emergency fund, .... 
Expense fund, 



Invested in the following : — 



$5,717 58 

306 43 

2,321 92 

2,870 07 

1,030 57 

1,582 86 

701 10 

1,008 94 

1,297 16 

5,765 18 

1,146 57 

542 37 

556 64 



$267 76 

14,742 44 

713 84 



Assets as per Ledger Accounts 

Cost value of bonds owned, 
Cash in office, .... 
Cash in bank, . . 
Massachusetts State Treasurer, 

Ledger assets, as per balance, 

Deduct Assets not admitted. 
Cost of ledger assets above present market value, . 

Total admitted assets, 



$24,847 39 
$45,774 08 
$15,724 04 



?1,160 00 
202 56 
5,033 78 
9,327 7 

$15,724 04 



15 00 
$15,709 04 



Liabilities. 



Special reserve, 



654 77 



Balance, f 15,054 

Unmatured Mortuary and Disability Liabilities. 

Claims adjusted, not due, $3,000 00 

Claims resisted, 4,000 00 

Total, $7,000 00 



Funds called for. 
Assessment issued, not yet due, 



$2,201 36 



HARTFORD LIFE INSURANCE CO. 



339 



Business of 1898 (all in Massachusetts). 



In force January 1, . 
Written during the year, . 

Total,. 
Ceased during the year, . 

In force December 31, 

Claims unpaid January 1, 
Claims incurred in 1898, . 

Total,. 
Claims paid during the year, 



Claims unpaid December 31, 



Number. 


Amount. 


1,488 


$2,130,150 00 


426 


663,000 00 



1,914 
540 



3 

20 



23 

17 



1,793,150 00 
791,650 00 



1,374 $2,001,500 00 



$4,000 00 
23,750 00 

$27,750 00 
20,750 00 

$7,000 00 



"HARTFORD LIFE INSURANCE COMPANY," HARTFORD, CONN. 

[Incorporated May, 1866. Commenced business of assessment insurance January, 1880.] 

R. B. Parker, President. Charles H. Bacall, Secretary. 

[Note by the Company. — In 1867 the above company organized as a regular stock life in- 
surance company under a special charter granted the previous year by the State of Connecticut. 
In 1880 it commenced operating as an assessment insurance corporation, continuing its stock 
department as a separate and distinct one. On Aug. 18, 1885, it was admitted as an assessment 
corporation to transact business in Massachusetts. On Dec. 31, 1898, it discontinued its assess- 
ment business. During the period intervening between 1880 and 1898 it carried, and so reported 
to its home State department, a line of business as a regular life insurance company. Its home 
State, during this period, recognized both branches of its business. In its return to the home 
State as of Dec. 31, 1898, it combined the stock and assessment departments, showing the total 
assets of both. In the statement herein abstracted only its assessment business is shown.] 



Income during 1898. 

Membership fees, 

Annual dues, 

First year's assessments (expense, $18,015.65; mortuary 

$68,195.66; emergency, $11,803.22), .... 
Subsequent years' assessments (exp., $18,282.44 ; mortuary 

$ 1,559,601. 17; emergency, $21,359.23 ; taxes, $11,669.47, 
Medical examiner's fees paid by applicant, 

Interest, 

Advance payments, . 
All other sources, 



Total income, 
Balance on hand Dec. 31, 1897, 
Mortuary and disability fund, . 
Emergency fund, 
Expense fund, . . . . 

Total 



$59,362 79 
250,461 21 

98,014 53 

1,610,912 31 

17,236 25 

74,162 43 

8,278 64 

1,877 57 

$2,120,305 73 
1,580,878 34 



$28,563 67 

1,251,520 30 

300,794 37 



$3,701,184 07 



340 



HARTFORD LIFE INSURANCE CO. 



Disbursements during 

Death claims, 

Advance payments applied, 
Apportioned to members, .... 

Total paid to members, 
Com'ns to agents (new business, $69,061.34 

renewals, #53,021.10), .... 
Salaries and allowances of managers and aofts 

of officers, 

and other compensation of office emp. 
Medical examiner's fees, .... 

Taxes and fees, 

Rent, $6,123.29; legal expenses, $4,798.48, 
Advertising and printing, 

Postage, 

Traveling expenses, 

Incidentals, 

Accumulation from annual dues transferred 
to stock department, .... 
Total expenses, 



Total disbursements, . 

Balance on hand Dec. 31, 1898,. 

Mortuary and reserve fund, 
Emergency fund, .... 
Expense fund, 



1898. 

81,377,016 51 

9,155 23 

86,712 89 



$122,082 44 

20,881 96 

20,416 70 

37,677 92 

20,376 25 

17,095 79 

10,921 77 

10,802 02 

9,035 23 

4,983 84 

7,293 79 

543,506 40 



$1,472,884 63 



825,074 11 

. $2,297,95> 
. $1,403,225 33 



§210,734 04 

1,190,018 82 

2,472 47 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cash in office, $5,654 60 

Cash in bank, 207,551 91 

Safety fund deposit, 1,190,018 82 



Ledger assets, as per balance, . 

# LlABLLITIE" 

Advance assessments, .... 

Taxes paid in advance, .... 

Total 



. $1,403,225 33 



$1,792 59 
679 88 



2,472 47 



Balance, 



. $1,400,752 - 



Unmatured Mortuary and Disability Liabilities. 

Claims adjusted, not yet due, .... $194,000 00 

in process of adjustment, . . . 130,144 49 

resisted, 14,000 00 

Total, $338,144 49 



MAINE BENEFIT LIFE ASSOCIATION. 



341 



Funds called for. 
Assessment issued, not yet due, 



In force January 1, . 
Written during the year, 

Total, . 
Ceased during the year, 



Business of 1898. 

Total Business. Mass. 

Number. Amount. Number. 

44,118 $90,067,600 00 2,646 

4,071 7,438,625 00 249 



48,189 $97,506,225 00 2,895 
6,016 12,138,350 00 374 



$377,000 00 



BUSINES8. 

Amount. 

$5,405,000 00 
500,500 00 

$5,905,500 00 
784,500 00 



In force December 31, 42,173* $85,367,875 00* 2,521 $5,121,000 00 



Claims unpaid January 1, . 
Claims incurred in 1898, . 

Total, 

Claims paid during the year, 

Balance, 
Deduc'ns by compromising, 

Claims unpaid Dec. 31, 



124f $326,350 00f 
637 1,426,800 00 



2 
38 



761 
565 


$1,753,150 00 
1,377,016 00 


196$ 


$376,134 00: 
32,989 00 


193 


$338,145 00 



40 
30 



10 



10 



$6,000 00 
72,500 00 

$78,500 00 
62,500 00 

$16,000 00 



$16,000 00 



"MAINE BENEFIT LIFE ASSOCIATION," AUBURN, ME. 

[Incorporated March 5, 1885. Commenced business March 17, 1885.] 

George C. Wing, President. Nathan W. Harris, Secretary. 



Income during 1898. 

Annual dues, 

First year's assessments (expense),. 
Subsequent years' assessments (expense 

ary, $147,644.66 ; emergency, $10,517 
Interest, $5,410 ; rents, $125, . 
All other sources, 



Total income, 
Balance on hand Dec. 31, 1897, 
Mortuary and disability fund, . 
Emergency fund, 
Expense fund, .... 



Total, 



,564.09 ; mortu 
05),. 



$4,869 10 

118,785 00 

28 36 



$18,372 56 

9,863 82 

166,725 80 

5,535 00 

2,205 10 

$202,702 28 

123,682 46 



$326,384 74 



* Including 2,300 policies, amounting to $4,800,000, in which the insured is delinquent, but with 
unexpired right of reinstatement. 

t Including two claims, amounting to $4,000, which were omitted in previous report. 

% Including one claim for $2,000, in which the courts decided in favor of the company, and 
two outlawed claims, amounting to $3,000. 



342 



MAINE BENEFIT LIFE ASSOCIATION. 



Disbursements during 

Death claims, 

Com'ns to agents (new business, $5,323.01 
renewals, $1,178.36), .... 

Commissions for collecting assessment-. 

Salaries and allowances of managers and a s 
and other compensation of officers, 
and other compensation of office emp. 

Medical examiner's fees, .... 

Taxes and fees, 

Rent, $1,424.79; legal expenses, $1,177.23, 

Advertising and printing, 

Postage, 

Borrowed money repaid, .... 

Incidentals, 

Total expenses, 



18 f ^. 



Total disbursements, 



Balance on hand Dec. 31, 1898,. 

Mortuary and disability fund, . 
Emergency fund, .... 
Expense fund, 



$6,501 37 
3,732 91 
9,882 06 
4,622 55 
2,550 25 
1,635 00 
317 42 
2,602 02 
1,036 25 
1,134 66 
1,500 00 
1,594 97 



$7,152 89 

129,185 00 

45 45 



$152,891 94 



37,109 46 



$190,001 40 



$136,383 34 



Invested in the following : — 

Assets as per Ledger Accounts. 

Cost value of bonds owned, 

Cash in office, 

Cash in bank, 



$ 129,185 00 

568 09 

6,630 25 



Ledger assets, as per balance, . 

Xon-Ledger Assets. 

Interest accrued, 

Market value of bonds and stocks over cost, . 
Office furniture, supplies, etc., .... 
Total non-ledger assets, . . . . - 



$650 01 
7,020 00 
1,000 00 



$136,383 34 



8,670 01 



Gross assets, 



$145,053 35 



Deduct Assets not admitted. 
Furniture, fixtures and safes, .... $700 00 
Supplies, printed matter and stationery, . . 300 00 
Total, 



1,000 00 



Total admitted assets, 



$144,053 35 



MAINE BENEFIT LIFE ASSOCIATION. 343 



Liabilities. ' 

Salaries, rents, expenses, etc., due or accrued, $400 13 

Advance assessments, 16 20 

Total, ■ $416 33 

Balance, $143,637 02 



Unmatured Mortuary and Disability Liabilities. 

Claims.adjusted, not yet due, .... $74,500 00 

in process of adjustment, . . . 15,000 00 

resisted, 5,500 00 

Total, $95,000 00 



Funds called for. 
Assessment issued, not yet due, $37,412 90 

Business of 1898. 

Total Business. Mass. Business. 

Number. Amount. Number. Amount. 

In force January 1, . . 6,052 $10,500,378 00 1,091 $1,842,250 00 
Written during the year, . 1,009 750,750 00 232 285,000 00 

Increased during the year, - 500 00 - 



Total, .... 7,061 $11,251,628 00 1,323 $2,127,250 00 
Ceased during the year, . 1,448 1,591,199 00 388 426,000 00 



In force December 31, 

Claims unpaid January 1, 
Claims incurred in 1898, . 


5,613* 

19 
99 


$9,660,429 00* 

$36,040 00 
214,725 00 


935 

6 
19 


$1,701,250 00 

$7,000 00 
28,500 00 


Total, .... 
Claims paid during the year, 


118 

75 


$250,765 00 
152,892 00 


25 
19 


$35,500 00 
23,627 00 


Balance, 
Deduces by compromising, 


43 


$97,873 00 
2,873 00 


6 


$11,873 00 
2,373 00 


Claims unpaid Dec. 31, 


43 


$95,000 00 


6 


$9,500 00 



* Including 93 lapsed policies, amounting to $92,250, with unexpired right of reinstatement. 



344 THE MASONIC EQUITABLE ACCIDENT ASS'N OF THE WORLD. 



THE MASONIC EQUITABLE ACCIDENT ASSOCIATION OF THE 

WORLD, BOSTON. 

[Incorporated Dec. 11, 1891. Commenced business Jan. 1, 1892.] 

Albert C. Smith, President. David T. Montague, Secretary. 

Office, 131 Devonshire Street. 



Income during 1898. 

Membership fees, 

Assessments (expense, $26,054.41 ; mortuary, $57,494.23), 

Interest, 

Profit on disposal of securities, 



|9,600 00 

83,548 64 

834 44 

401 99 



Total income, $94,385 07 

Balance on hand Dec. 31, 1897, 24,059 95 



Mortuary and disability fund, . 

Emergency fund, 

Expense fund, .... 



$9,761 24 

12,856 50 

1,442 21 



Total, $118,445 02 



Disbursements during 
$13,500 ; disability claims, 



1898. 



Death claims, 

$35,854.50, . . . 

Advance payments returned, . 

Total paid to members, 
Commissions to agents (new business, $9,600 

renewals, $1,739.14), .... 
Commissions for collecting assessments, 

Salaries of officers, 

Salaries and other compensation of office emp. 
Medical examiner's fees, .... 

Taxes and fees, 

Rent, $1,310.07 ; legal expenses, $535, . 
Advertising and printing, 
Postage and revenue, 
Expense of settling claims, 
Incidentals, 

Total expenses, . 



Total disbursements, 



Balance on hand Dec. 31, 1898, . 

Mortuary and disability fund, . 
Emergency fund, .... 
Expense fund, 



$49,354 50 
95 75 



$11,339 14 
4,296 73 
9,595 48 
3,526 10 
1,003 25 

970 03 
1,845 07 
1,444 14 
1,804 67 
2,050 34 

879 12 



$13,863 28 

15,485 78 

891 64 



$49,450 25 



38,754 07 
$88,204 32 



$30,240 70 



THE MASONIC EQUITABLE ACCIDENT ASS'N OF THE WORLD. 345 
Invested in the following : — 



o 






Assets as per Ledger Accounts. 

Cost value of bonds and stocks owned, $16,068 28 

Cash in office, 3,155 02 

Cash in bank, 11,017 40 

Ledger assets, as per balance, $30,240 70 

Non-Ledger Assets. 

Interest due, $22.50; accrued, $90.83, . . $113 33 

Market value of bonds and stocks over cost, . 585 72 

Total non-ledger assets, .... 699 05 

Gross assets, $30,939 75 

Liabilities. 

Salaries, rents, expenses, etc., due or accrued, $641 34 

Advance assessments, 2,427 50 

Total, 3,068 84 

Balance, $27,870 91 

Unmatured Mortuary and Disability Liabilities. 

Claims in process of adjustment, . . . $382 14 

resisted, 5,900 00 

reported, not in process (estimated), . 720 00 

Total, $7,002 14 

Funds called for. 
Assessment issued, not yet due, $4,000 00 

Business of 1898. 

Total Business. Mass. Business. 

Number. Amount. Number. Amount. 

In force January 1, . . 7,763 $29,140,100 00 3,824 $15,676,900 00 
Written during the year, . 2,233 7,375,900 00 749 2,614,500 00 



Total, .... 9,996 $36,516,000 00 4,573 $18,291,400 00 

Ceased during the year, . 2,860 9,218,500 00 1,323 4,750,250 00 

In force December 31, 7,136 $27,297,500 00 3,250 $13,541,150 00 

Claims unpaid January 1, . 28 $4,427 00 7 $1,132 00 

Claims incurred in 1898, . 796 52,430 00 246 21,868 00 

Total 824 $56,857 00 253 $23,000 00 

Claims paid during the year, 798 49,355 00 249 21,892 00 

Balance, ... 26 $7,502 00 4 $1,108 00 

Deduc'ns by compromising, - 500 00 - 

Claims unpaid Dec. 31, 26 $7,002 00 4 $1,108 00 



346 MASONS' FRATERNAL ACCIDENT ASSOCIATION OF AMERICA. 



MASONS' FRATERNAL ACCIDENT ASSOCIATION OF AMERICA, 

WESTFIELD, MASS. 

[Incorporated Aug. 15, 1887. Commenced business Oct. 1, 1887.] 

William Provin, President. Frank Bowler, Secretary. 



Income during 1898. 



Membership fees, 

Annual dues, 

Assessments (mortuary), 

Interest, 

Donation by directors, 

Borrowed money, 

Total income, 
Balance on hand Dec. 31, 1897, 
Mortuary and disability fund, 
Emergency fund, 
Expense fund, . 

Total, .... 



$933 98* 
15,866 40 
5,175 52 



124,980 00 

36,674 00 

68,142 90 

330 00 

27,119 20 

2,900 00 

$160,146 10 
21,975 90 



$182,122 00 



Disbursements during 

Death claims, $12,500 ; disability claims, $43,162 

Com'ns to agents (new business, $24,980 
renewals, $2,775.90), .... 

Commissions for collecting assessment-, 

Salaries and allowances of managers and ag'ts 
and other compensation of officers, 
and other compensation of office emp. 

Medical examiner's fees, .... 

Insurance department fees and licenses, . 

Rent, $850 ; legal expenses, $8,064.64, . 

Advertising and printing, 

Stamps, 

Traveling expenses, . 

Furniture, . 

Borrowed money repaid, 

Incidentals, 

Total expenses, . 

Total disbursements, 

Balance on hand Dec. 31, 1898, 

Mortuary and disability fund, . 

Emergency fund, 

Expense fund, .... 



1898. 
26,' 



$60,662 26 



$27,755 90 

3,979 96 

14,800 00 

14,123 33 

4,698 00 

459 00 

1,872 40 

8,914 64 

3,023 08 

2,728 57 

2,529 50 

1,023 85 

14,000 00 

2,943 12 



$732 26 

17,510 00 

366 13 



102,851 35 

$163,513 61 

$18,60S 39 



* $12,500 due from this fund to the expense fund. 



MASONS' FRATERNAL ACCIDENT ASSOCIATION OF AMERICA. 347 



Invested in the following 



Assets as per Ledger Accounts 
Town of Westfield notes, . 
Cost value of stocks owned, 
Cash in office, .... 

in bank, .... 

in hands of State Treasurer, 

Ledger assets, as per balance, 



$12,600 00 

2,580 00 

1,098 39 

2,000 00 

330 00 

$18,608 39 



Non-Ledger Assets. 

Market value of stocks over cost, . . . $709 00 

Furniture, fixtures and safes, .... 4,000 00 

Supplies, printed matter and stationery, . . 1,500 00 

Total non-ledger assets, . 



Gross assets, 



6,209 00 



$24,817 39 



Deduct Assets not admitted. 
Furniture, fixtures and safes, .... $4,000 00 
Supplies, printed matter and stationery, . . 1,500 00 
Total, 



Total admitted assets, 



5,500 00 



$19,317 39 



Liabilities. 



Advance assessments, 



2,913 50 



Balance, $16,403 89 



Unmatured Mortuary and Disability Liabilities. 



Claims adjusted, not yet due, . 
in process of adjustment, 
resisted, 

reported, not in process, 
Total, 



^6,270 16 
783 58 

6,040 00 
434 58 



$13,528 32 






Funds called for. 
Assessment issued, not yet due, 



$21,503 00 



In force January 1 , . 
Written during the year, 

Total, . 
Ceased during the year, 



Business of 1898. 

Total Business. 
.Number. Amount. 

12,277 $49,894,290 00 1,101 $4,529,760 00 
4,996 17,922,750 00 60 273,500 00 



Mass. Business. 
Number. Amount. 



17,273 $67,817,040 00 1,161 $4,803,260 00 
4,924 17,642,388 00 221 994,500 00 



In force December 31, 12,349 $50,174,652 00 940 $3,808,760 00 



348 THE MASSACHUSETTS MUTUAL ACCIDENT ASSOCIATE 

Total Business. Mass. Business. 

Number. Amount. Number. Amount. 

Claims unpaid January 1, . 189 $25,570 00 16 $1,674 00 

Claims incurred in 1898, . 778 62,445 00 43 8,432 00 



Total, .... 967 $83,015 00 59 $10,106 00 

Claims paid during the year, 776 60,662 00 51 M 00 

Balance, ... 191 $27,353 00 8 $551 00 

Deduc'ns by compromising, - 13,825 00 - 



Claims unpaid Dec. 31, 191 $13,528 00 8 $551 00 



THE MASSACHUSETTS MUTUAL ACCIDENT ASSOCIATION, 

BOSTON. 

[Incorporated Dec. 8, 1883. Commenced business Jan. 1, 1884.] 

Daniel Lovering, Jr., President. G. Leonard McNeill, Secretary. 

Office, 131 Devonshire Street. 

Income during 1898. 

Membership fees, $17,112 00 

Assessments (expense, $36,785.74; mortuary, $43,328.58), . 80,114 32 

Interest, 1,040 32 

All other sources, 75 00 

Total income, $98,341 64 

Balance on hand Dec. 31, 1897 33,855 94 

Mortuary and disability fund, .... $17,926 25 

Emergency fund 12,500 00 

Expense fund 3,429 69 

Total, $132,197 58 

Disbursements during 1898. 

Death claims, $6,362; disability claims, $31,835.82, . . $38,197 82 
Com'ns to agents (new business, $20,322.96: 

renewals, $6,409.15), $26,732 11 

Salaries and allowances of managers and ag'ts, 3,029 70 

of officers, 7,350 03 

and other compensation of office emp., 6,434 23 

Medical examiner's fees, 1,167 88 

Taxes and fees, 772 87 

Rent, $1,106.27; legal expenses, $441.10, . 1,547 37 

Advertising and printing, .... 3,634 21 

Postage, 1,900 38 

Furniture 834 07 

Incidentals, 2,369 66 



THE MASSACHUSETTS MUTUAL ACCIDENT ASSOCIATION. 349 



$598 00 
2,662 74 


$59,033 25 







$97,231 07 


$19,403 35 

12,990 00 

2,573 16 


$34,966 51 



Dividend paid to stockholders, 
Adjusting claims, 
Total expenses, . 

Total disbursements, . 

Balance on hand Dec. 31, 1898, 

Mortuary and disability fund, . 

Emergency fund, 

Expense fund, .... 

Invested in the following-; — 



Assets as per Ledger Accounts 

Cost value of bonds owned, 

Cash in office, . 

Cash in bank, . 

Balances due from agents 

Bills receivable, 

Interest in hands of State Treasurer 

Open accounts, . 

Total, . 
Deduct balances due to agents, 

Ledger assets, as per balance, 

Non-Ledger Assets. 

Interest accrued, $225 00 

Market value of bonds over cost, . . . 705 67 

Furniture and fixtures, 2,636 48 

Supplies, printed matter, etc., .... 650 00 
Total non-ledger assets, 



Gross assets, 



$25,668 08 

1,233 48 

5,747 70 

1,225 09 

615 00 

490 00 

154 51 

$35,133 86 

167 35 

$34,966 51 



4,217 15 
$39,183 66 



Deduct Assets not admitted. 






Furniture, fixtures and safes, .... 
Supplies, printed matter and stationery, . 
Balances due from agents not secured by bonds, 
Total, 

Total admitted assets, .... 

Liabilities. 
Salaries, expenses, etc., due or accrued, 
Advance assessments, 

Capital stock, 

Total, 

Balance, 



$2,636 48 
650 00 
740 10 



$2,093 68 
6,289 50 
3,000 00 



4,026 58 
$35,157 08 



11,383 18 
$23,773 90 



350 merchants' and manufacturers' life association. 



Unmatured Mortuary and Disability Liabilities. 

Claims in process of adjustment, $2,225 13 

resisted, 13,237 14 

reported, not in process (71), 



* 



Funds called for. 

Assessment issued, not yet due, f 6,453 94 

Business of 1898. 

Total Business. Mass. Business. 

Number. Amount. Number. Amount. 

In force January 1, . . 5,493 $21,034,625 00 2,451 $10,391,125 00 

Written during the year, . 3,762 8,364,500 00 1,328 3,353,000 00 
Increased during the year, - 13,750 00 



Total, .... 
Ceased during the year, . 


9,255 
2,909 


$29,412,875 00 
8,045,375 00 


3,779 $13,744,125 00 
768 3,236,875 00 


In force December 31, 

Claims unpaid January 1, 
Claims incurred in 1898, . 


6,346 

44 

907 


$21,367,500 00 

$2,157 00f 
52,653 00t 


3,011 \ 

23 

287 

310 
281 


110,507,250 00 

$2,157 00f 

24,060 00t 


Total, .... 
Claims paid during the year, 


951 

866 


$54,810 00t 
38,198 00 


$26,217 00t 
14,318 00 


Balance, 
Deduc'ns by compromising, 


85 


$16,612 00t 
1,150 00 


29 


$11,899 00t 
1,150 00 


Claims unpaid Dec. 31, 


85 


$15,462 00t 


29 


$10,749 00t 



MERCHANTS' AND MANUFACTURERS 1 LIFE ASSOCIATION, 

WESTFIELD, MASS. 

[Incorporated Nov. 7, 1894. Commenced business Jan. 3, 1895.] 

William Warren, Vice-President. E. L. Goodnow, Secretary. 

Income during 1898. 

Annual dues, $5,126 95 

First year's assessments (expense), 13,470 99 

Subsequent years' assessments (expense, $299.61; mortu- 
ary, $19,659.51 ; emergency, $ 118. 22), .... 20,07734 
Interest, 557 92 

Total income, $39,233 20 

* Amount unknown. 

t Not including in the total business 41 reported claims, and in the Massachusetts bueir 
20, the amount of which was unknown, no proofs of loss having been received. 

J Not including in the total business 71 reported claims, and in the Massachusetts business 
23, the amount of which is unknown, no proofs of loss having been received. 



merchants' and manufacturers' life association. 351 



Balance on hand Dec. 31, 1897, 
Mortuary and disability fund, . 
Emergency fund, 
Expense fund, . 



Total, 



$11,589 58 

5,484 41 

52 08 



Disbursements during 1898. 

Death claims, 

Com'ns to agents (new business, $12,394.03 
renewals, $153.52), .... 

Salaries of officers, 

Salaries and other compensation of office emp 
Medical examiner's fees, .... 

Rent, 

Advertising and printing, 

Agency expenses, 

Postage, 

Investigating and adjusting death claims, 

Incidentals, 

Total expenses, 






Total disbursements, . 

Balance on hand Dec. 31, 1898, . 

Mortuary and disability fund, . 
Emergency fund, .... 
Expense fund, 

Invested in the following : — 



$12,547 55 
1,464 03 
1,141 00 

595 50 

1,071 68 

99 43 

536 47 

424 85 
1,122 85 

947 94 



£18,326 24 

8,160 55 

121 18 



Assets as per Ledger Accounts 

Cost value of bonds owned, 

Cash in office, 

Cash in bank, 

Town of Westfield note, . 

Interest in hands of State Treasurer, 

Ledger assets, as per balance, . 



Non-Ledger Assets. 

Interest, 

Market value of bonds over cost, 

Total non-ledger assets, .... 



$37 50 
101 05 



Gross assets, 



Deduct Assets not admitted. 
Special deposit in Missouri, 



$17,126 07 

$56,359 27 
$9,800 00 



19,951 30 

$29,751 30 
$26,607 97 



$5,123 95 
556 71 

18,772 31 

2,000 00 

155 00 

$26,607 97 



138 55 



$26,746 52 
1,000 00 



Total admitted assets, 



$25,746 52 



3-52 



MUTUAL RESERVE FUND LIFE ASSOCIATION. 



Liabilities. 

Salaries, rents, expenses, etc., due or accrued, 

Advance assessments, 

Total 


$144 06 
57 85 


|201 91 








$25,544 61 



Funds called for. 
Assessment issued, not yet due, 



In force January 1, . 
Written during the year, 



Business of 1898. 

Total Business. 
Number. Amount. 

1,024 $ 2,288,250 00 
577 895,750 00 



$1,360 73 



Mass. Bcsiness. 
Number. Amount. 

1,472 $2,168,500 00 
188 313,250 00 



Total, .... 
Ceased during the year, . 


2,201 
482 


$3,184,000 00 
756,000 00 


1,660 
291 


$2,481,750 00 
471,000 00 


In force December 31, 

Claims unpaid January 1, . 
Claims incurred in 1898, . 


1,719 

2 

8 


$2,428,000 00 

$2,000 00 
9,250 00 


1,369 

1 

7 


$2,010,750 00 

$1,000 00 
9,000 00 


Total 

Claims paid during the year, 


10 
10 


$11,250 00 
9,800 00 


8 
8 


$10,000 00 
9,150 00 


Balance, 
Deduc'ns by compromising, 


- 


$1,450 00 
1,450 00 


- 


$850 00 
850 00 



"MUTUAL RESERVE FUND LIFE ASSOCIATION'," 
NEW YORK, N. Y. 

[Incorporated Feb. 9, 1SS1. Commenced business Feb. 9, 18SL] 

Frederick A. Burnham, President. Charles W. Camp, Secretary. 

Income during- 1898. 

Annual dues, $24,196 38 

Fees for alterations in policies, 972 28 

First year's assessments (expense, $628,031.84; mortuary, 

$14,791.78; emergency, $51,470.39), 694,294 01 

Subsequent years' assessments (expense, $1,049,660.12 ; mort- 
uary, $3,449,044.58; emergency, $173,409.10), . . . 4,672,113 80 

Medical examiner's fees paid by applicant 339 00 

Interest, $111,390.56; rents, $148,761.23, .... 260,15179 



Total income, 

Balance on hand Dec. 31, 1897, 
Emergency fund, 
ExjDense fund, . 

Total, 



$3,378,703 35 
760,663 94 



$5,652,0' " I 
4,139,367 29 

f 9,79 1,434 55 



MUTUAL RESERVE FUND LIFE ASSOCIATION. 



353 



Disbursements during 1898. 



Death claims, $3,887,500.95; disability claims, 

$13,425, 

Advance payments returned, . 
Apportioned to members, 
Advance assessments applied, . 

Total paid to members, 
Com'ns to agents (new business, $456,466.43 

renewals, $180,342.53), 
Commissions for collecting assessments, 
Salaries and allowances of managers and ag'ts 

of officers, 

and other compensation of office emp. 
Medical examiner's fees, .... 

Taxes and fees, 

Internal revenue tax, .... 
Rent, $86,623.96; legal expenses, $35,889.52 
Advertising and printing, 
Expenses and repairs on real estate, 

Traveling expenses, 

Depreciation of 1897 assets (agents 1 balances) 
Furniture and fixtures,* .... 
Investigating and adjusting claims, . 

Actuarial expenses, 

Postage, 

Agents' expenses, 

General office expenses, .... 
Investment expenses, .... 
Total expenses, . 

Total disbursements, .... 

Balance on hand Dec. 31, 1898, 

Emergency fund, 

Expense fund, .... 



$3,900,925 95 

1,093 09 

149,693 68 

50,122 39 



$4,101,835 11 



$636,808 96 
63,955 18 
56,044 60 
92,918 00 

243,829 59 

27,650 45 

63,951 41 

3,696 15 

122,513 48 
73,831 96 

121,040 49 
21,775 37 

200,000 00 
59,677 26 

111,464 27 
17,938 84 
34,018 24 
13,024 69 
85,182 50 
2,200 00 



2,051,521 44 



1,153,356 55 



$3,638,078 00 



$3,087,449 33 
550,628 67 



Invested in the following : — 



Assets as per Ledger Accounts 



Cost value of real estate, . 
Loans on mortgages, 
Cost value of bonds owned, 
Cash in office, . 
Cash in bank, . 



$563,318 54 
1,195,580 11 

441,361 73 
732 07 

973,938 00 



* Carried by company as an asset, but charged off as a disbursement by insurance department. 






354 



MUTUAL RESERVE FUND LIFE ASSOCIATION. 



Balances due from agents, 

On deposit in collecting bank and with bonded collectors, 



Total 

Deduct balances due to agents, 

Ledger assets, as per balance, . 

Non-Ledger Assets. 
Interest due, $5,457.87 ; accrued, $12,110.25, 
Rents due, $3,471.60; accrued, $3,433.33, 
Market value of real estate over cost value, 
Market value of bonds over cost, 

Furniture and fixtures 

Total non-ledger assets, . 



$304,779 80 
159,239 33 

$3,638,949 58 

871 58 

$3,638,078 00 



Gross assets, 



$17,568 12 

6,904 93 

10,841 06 

21,558 83 

59,677 26 



116,550 20 
$3,754,628 20 



Deduct Assets not admitted. 



Furniture, fixtures and safes, .... 
Balances due from agents not secured by bonds, 

Special reserve, 

Loan and interest on mortgage in excess of 

value, 

Special deposits, 

Total, 

Total admitted assets, .... 

Liabilities. 

Death claims due and unpaid, .... 
Salaries, rents, expenses, etc., due or accrued, 
Advance assessments, 
Dividend obligations due or accrued, 
Outstanding bond obligations, . 
Total, . . . 



$59,677 26 

304,779 80 

3,753 05 

1,052 82 
259,496 61 



628,759 54 
. $3,125,868 66 



Balance, 



$5,000 00 

2,917 58 

125,678 11 

17,134 19 

75,127 77 



225,857 
$2,900,011 01 



Unmatured Mortuary and Disability Liabilities. 
Claims adjusted, not yet due, .... $503,380 00 
in process of adjustment, . . . 741,974 70 

resisted, 110,833 00 

reported, not in process, . . . 421,196 36 



Total 

Deduct liability on special deposits, 



$1,777,384 06 
140,550 00 



Funds called for. 
Assessment issued, not yet due, 



$1,636,834 06 
$655,972 32 



NATIONAL ACCIDENT SOCIETY. 355 



Business of 1898. 

Total Business. Mass. Business. 

Number. Amount. Number. Amount. 

In force January 1, . . 111,908 $301,567,101 00 2,684 $8,410,450 00 

Written during the year, . 12,779 32,027,390 00 279 803,500 00 



Total, .... 124,687 $333,594,491 00 2,963 $9,213,950 00 
Ceased during the year, . 22,308 64,425,170 00 531 1,757,500 00 



In force December 31, 102,379*$ 269,169,321 00 2,432 $7,456,450 00 

Claims unpaid January 1, . 528 $1,737,885 00 10 $38,500 00 

Claims incurred in 1898, . 1,408 4,250,955 00 39 153,000 00 



Total, .... 1,936 $5,988,840 00 49 $191,500 00 

Claims paid during the year, 1,352 3,900,926 00 31 131,868 00 



Balance, . . . 584f $2,087,914 00f 18 $59,632 00 

Deduc'ns by compromising, - 206,937 00 - 9,532 00 



Claims unpaid Dec. 31, 568 $1,782,384 00 18 $50,100 00 



"NATIONAL ACCIDENT SOCIETY," NEW YORK, N. Y. 

[Incorporated Nov. 2, 1885. Commenced business Dec. 15, 1885.] 

Charles H. Webb, President. Joseph I. Barndm, Secretary. 

Income during 1898. 

Membership fees, $4,140 00 

Assessments (expense, $28,037.10; mortuary, $19,331.60), . 47,368 70 
Interest, 814 43 

Total income, $52,323 13 

Balance on hand Dec. 31, 1897, 38,235 41 

Mortuary and disability fund, .... $13,851 52 

Emergency fund, 17,200 70 

Expense fund, 7,183 19 

Total, $90,558 54 

Disbursements during 1898. 

Disability claims, $16,963 16 

Commissions to agents (new business), . . $4,115 00 

Commissions for collecting assessments, . 9,317 51 

Salaries and other compensation of office emp., 9,656 88 

Medical examiner's fees, 129 50 

Taxes and fees, 451 66 

* Of this number, 21,458 were delinquent, but -with unexpired right of reinstatement, 
t Including 4 claims, amounting to $60,000, which the courts decided in favor of the company, 
and 12 claims, amounting to $38,592.50, upon which the company charges itself with no liability. 



356 



NATIONAL ACCIDENT SOCIETY . 



Rent, $2,201.02; legal expenses, 11,646.69, . $3,847 71 

Advertising and printing, .... 3,877 61 

Agency expenses, 1,819 21 

Traveling and adjustment account, . . . 3,702 42 

Incidentals, 3,250 32 

Total expenses, 



Total disbursements, . 

Balance on hand Dec. 31, 1898, . 

Mortuary and disability fund, . 
Emergency fund, .... 
Expense fund, 



$9,932 09 

17,859 45 

5,636 02 



$40,167 82 
$57,130 98 
133,427 56 



Invested in the following : — 



Assets as per Ledger Accounts 



Cost value of bonds owned, 
Cash in office, . 
Cash in bank, . 
Balances due from agents, 
Bills receivable, 



Ledger assets, as per balance, 



$17,503 75 

865 92 

10,293 30 

3,264 59 

1,500 00 

$33,427 56 



Non-Ledger Assets. 

Interest due, $72.98; accrued, $159.99, . . $232 97 

Furniture and supplies, 5,125 00 

Printed matter, 500 00 

Total non-ledger assets, .... 



Gross assets, 



5,857 97 
$39,285 53 



Deduct Assets not admitted. 

Furniture, fixtures and safes, .... $5,125 00 

Supplies, printed matter and stationery, . . 500 00 

Cost of ledger assets above present market value, 600 00 

Total 

Total admitted assets, 



6,225 00 
$33,060 53 



Liabilities. 

Salaries, rents, expenses, etc., due or accrued, $130 44 

Advance assessments, 4,929 51 

Total, 



5,059 95 



Balance, $28,000 58 



NEW ENGLAND COMMERCIAL TRAVELERS' ASSOCIATION. 357 



Unmatured Mortuary and Disability Liabilities. 

Claims adjusted, not yet due, .... $4,750 00 

in process of adjustment, . . . 1,323 34 

resisted, 1,500 00 

reported, not in process, . . . 685 00 

Total, $8,258 34 



Funds called for. 
Assessment issued, not yet due, 

Business of 1898. 



$12,703 64 



In force January 1, 
Written during the year, . 


Total Business. 
Number. Amount. 

3,316 $28,079,750 00 
1,765 11,368,750 00 


Mass 
Number. 

123 
93 

216 
90 

126 

1 

7 

8 
6 

2 


Business. 

Amount. 

$1,030,250 00 
451,750 00 


Total,. 
Ceased during the year, . 


5,081 
1,712 


$39,448,500 00 
12,434,250 00 


$1,482,000 00 
616,750 00 


In force December 31, 

Claims unpaid January 1, 
Claims incurred in 1898, . 


3,369 

41 

220 


$27,014,250 00 

$7,010 00 
18,211 00 


$865,250 00 

$50 00 
344 00 


Total, .... 
Claims paid during the year, 


261 
211 


$25,221 00 
16,963 00 


$394 00 
339 00 


Claims unpaid Dec. 31, 


50 


$8,258 00 


$55 00 



NEW ENGLAND COMMERCIAL TRAVELERS' ASSOCIATION, 

BOSTON. 

[Incorporated Oct. 15, 1877. Commenced business Jan. 24, 1877.] 

Edward J. H. Estabrooks, President. Walter P. Tilton, Secretary. 

Office, 1 65 Devonshire Street. 

Income during 1898. 

Membership fees, $54 00 

Annual dues, 2,162 50 

First year's assessments (mortuary), 196 50 

Subsequent years' assessments (mortuary) , . 23,926 50 

Interest, 1,042 03 

All other sources, 280 50 

Total income, $27,662 03 

Balance on hand Dec. 31, 1897, 33,688 53 

Mortuary fund, $6,790 50 

Reserve fund, 24,232 29 

Expense fund, 2,665 74 

Total, $61,350 56 



358 NEW ENGLAND COMMERCIAL TRAVELERS' ASSOCIATION. 



Disbursements during 1898. 



Death claims, 

Commissions to agents (new business), 
Salaries of officers, . 
Medical examiner's fees, . 

Rent, 

Stationery and jjrinting, . 
Incidentals, 

Total expenses, . 



Total disbursements, 



Balance on hand Dec. 31, 1898, . 



Mortuary fund, . 
Reserve fund, . 
Expense fund, . 



$85 00 
1,350 00 
3 25 
351 72 
166 
387 32 



$4,647 50 

25,114 79 

2,978 23 



$26,266 00 



2,344 04 
$28,610 04 
?32,740 52 



Invested in the following 



Assets as per Ledger Accounts 
Cost value of bonds owned, 
Cash in office, .... 

in bank, .... 

with State Treasurer, 

Ledger assets, as per balance, 



$24,188 97 

116 23 

8,035 32 

400 00 

$32,740 52 



Non-Ledger Assets. 
Market value of bonds over cost, 



308 28 



Bi 

In force January 1, . 
Written during the year, . 


.SINESS OF 

Total 
Number. 

879 
19 

898 

42 

856 

1 
14 

15 

15 


1898. 

Btsisess. 
Amount. 

_* 

_* 


Mass. 

Number. 

651 
16 

667 
33 

634 

1 
11 

12 
12 


?33,048 80 

BrsiKBss. 
Amount. 

* 


Total, .... 
Ceased during the year, . 


_* 
_* 


_» 


In force December 31, 

Claims unpaid January 1, 
Claims incurred in 1898, . 


_* 

$1,758 00 
24,508 00 


_* 

$1,758 00 
19,258 00 


Total, .... 
Claims paid during the year, . 


$26,266 00 
26,266 00 


f21,016 00 
21,016 00 



* An amount equal to two dollars for each member. 



NEW ENGLAND MUTUAL ACCIDENT ASSOCIATION. 



359 



NEW ENGLAND MUTUAL ACCIDENT ASSOCIATION, BOSTON. 

[Incorporated Feb. 29, 1884. Commenced business March, 1884.] 

Augustus P. Martin, President. Franklin J. Moore, Secretary. 

Office, 60 State Street. 

Income during 1898. 

Membership fees, $19,793 10 

Annual dues, 189 00 

Assessments (expense, $130,577.6.7; mortuary, $101,183.56), 231,761 23 

Interest, 1,694 13 

Reinsurance, 7,626 82 

All other sources, 80 00 



Total income, $261,144 28 

Balance on hand Dec. 31, 1897, 80,109 36 

Mortuary and disability fund, .... $47,294 77 

Emergency fund, 24,933 10 

Expense fund, 7,881 49 



Total, $341,253 64 



Disbursements during 
Death claims, $43,775 ; disability claims, 

$82,169.50, 

Advance payments returned, . 

Total paid to members, 
Com'ns to agents (new business, $42,335.05 

renewals, $37,680.88), .... 
Salaries and allowances of managers and ag'ts 
and other compensation of officers, 
and other compensation of office emp 
Medical examiner's fees, . 
Taxes and fees, .... 

Rent, $3,327.49 ; legal expenses, $3,140. 
Advertising and printing, . 

Postage, 

Traveling expenses, .... 
Adjustment expenses, 

Reinsurance, 

Incidentals, 

Total expenses, .... 



02, 



Total disbursements, . 

Balance on hand Dec. 31, 1898, 

Mortuary and disability fund, . 

Emergency fund, 

Expense fund, .... 



1898. 

$125,944 50 
2,637 35 



$128,581 85 



,015 93 
8,099 96 
11,195 00 
15,482 98 
5,399 62 
2,604 67 
6,467 51 
4,470 52 
2,467 24 
1,163 94 
6,631 91 
7,132 97 
4,591 00 



155,723 25 

$284,305 10 

$56,948 54 



$28,058 80 

25,284 35 

3,605 39 



360 



NEW ENGLAND MUTUAL ACCIDENT ASSOCIATION. 



Invested in the following : — 

Assets as pek Ledger Accounts 
Cost value of bonds owned, 
Cash in office, . 
Cash in bank, . 
Balances due from agents, 
Bills receivable, 

Total 

Deduct balances due to agents, 

Ledger assets, as per balance, 



f29,478 52 

2,324 29 

22,778 61 

4,665 39 

270 00 

$59,516 81 
B8 27 

156,948 54 



Non-Ledger Assets. 

Interest due, $192.50 ; accrued, $300.87, . $493 37 

Market value of bonds over cost, . . . 1,827 73 

Furniture, fixtures and supplies, . . . 4,000 00 

Due on account of reinsurance, . . . 178 04 
Total non-ledger assets, . 



Gross assets, 



6,499 14 
$63,447 68 



Deduct Assets not admitted. 

Furniture, fixtures and safes, .... $3,500 00 

Supplies, printed matter and stationery, . . 500 00 

Balances due from agents not secured by bonds, 2,779 18 

Total, 



Total admitted assets, 



6,779 18 
$56,668 50 



Liabilities. 
Salaries, rents, expenses, etc., due or accrued, 
Advance assessments, 
Capital stock, .... 
Special deposit in Missouri, 

Gross liabilities, 
Deduct liability on special deposit, 
Total, 



Balance, 



$2,200 00 

155 90 

500 00 

1,000 00 

$3,855 90 
300 00 



3,555 90 
$53,112 60 



Unmatured Mortuary and Disability Liabilities. 

Claims adjusted, not yet due, .... $12,950 00 
in process of adjustment (estimated), . 22,800 00 

resisted (estimated), .... 15,700 00 

Total, $51,450 00 



Funds called for. 
Assessment issued, not yet due, 



111,123 00 



NORTHWESTERN LIFE ASSURANCE CO. 



361 



Business of 1898. 

Total Business. 
Number. Amount. 

In force January 1, . . 13,930 $86,894,525 00 
Written during the year, . 7,719 41,324,500 00 
Increased during the year, - 1,287,750 00 



Mass. Business. 
Number. Amount. 

3,326 $19,405,750 00 

2,992 15,076,125 00 

628,000 00 



Total, .... 21,649 $129,506,775 00 
Ceased during the year, . 8,123 48,860,847 00 



6,318 $35,109,875 00 
2,058 11,105,390 00 



In force December 31, 13,526 $80,645,928 00 4,260 $24,004,485 00 



Claims unpaid January 1, . 107 $36,580 00 

Claims incurred in 1898, . 1,657 141,940 00 



9 
320 



$6,532 00 
37,281 00 



Total, .... 1,764 $178,520 00 
Claims paid during the year, 1,635 125,945 00 



329 
308 



Balance, . . . 129 
Deduc'ns by compromising, - 



$52,575 00 
1,125 00 



21 



Claims unpaid Dec. 31, 129 $51,450 00 21 



$43,813 00 
28,063 00 

$15,750 00 



$15,750 00 



"NORTHWESTERN LIFE ASSURANCE COMPANY," CHICAGO, ILL. 

[Incorporated June 27, 1874. Commenced business July, 1874.] 

C. E. Mabie, President. R. E. Sackett, Secretary. 

Income during 1898. 
First year's assessments (expense, $183,577.75; mortuary, 

$522,026.34; emergency, $45,235.05), .... $750,83914 
Subsequent years' assessments (expense, $264,866.46 ; mortu- 
ary, $987,172.36 ; emergency, $190,509.81), . . . 1,442,548 63 

Delinquent charges, 2,154 74 

Profit on disposal of bonds, 666 36 

Interest, 4 51,091 67 

Suspense account, 26 01 



Total income, 
Balance on hand Dec. 31, 1897, 
Mortuary and disability fund, . 
Emergency fund, 
Expense fund, .... 

Total, 



$2,247,326 55 
1,226,728 14 



$41,792 10 
457,825 40 
727,110 64 



. $3,474,054 69 



Disbursements during 1898. 
Death claims, $1,681,111.47 ; disability claims, 

$500 $1,681,611 47 

Advance assessments applied, .... 5,971 63 

Apportioned to members, .... 17,131 88 

Total paid to members, .... $1,704,714 98 



362 



NORTHWESTERN LIFE ASSURANCE CO. 



Com'ns to agents (new business, $347,346.35 
renewals, $8,637.81, .... 

Commissions for collecting assessments, 

Salaries and allowances of managers and ag'ts 
and other compensation of officers, 
and other compensation of office emp. 

Medical examinees fees, . 

Taxes and fees, 

Internal revenue taxes, 

Rent, $19,088.54 ; legal expenses, $8,612 

Advertising, stationery and printing, 

Postage, 

Traveling expenses, . 

Investment expenses, 

Incidentals, .... 
Total expenses, . 



Total disbursements, 



Balance on hand Dec. 31, 1898, 

Mortuary and disability fund, . 
Emergency fund, . 
Expense fund, . . 



.61, 



$355,984 16 

12,114 13 

46,105 80 

50,290 52 

82,792 44 

10,017 00 

6,660 50 

9,139 87 

27,701 15 

15,374 08 

7,568 89 

14,899 77 

887 38 

12,616 89 



$652,152 58 



$2,356,8' 



. $1,117,187 13 



$43,102 77 
645,939 61 
428,144 75 



Invested in the following : — 

Assets as per Ledger Accounts. 

Loans on mortgages, $749,250 00 

Cost value of bonds owned, 153,110 65 

Cash in office, 995 26 

Cash in bank, 156,318 49 

Balances due from agents, 42,661 17 

Bills receivable ' 10,823 72 

Unpaid cost premium on bonds sold, since received, . . 7,208 07 

Total, $1,120,367 36 

Deduct balances due to agents, 3,180 23 

Ledger assets, as per balance, $1,117,187 13 



Non-Ledger Assets. 

Interest due, $1,499.65 ; accrued, $14,798.83, . $16,298 48 

Market value of bonds over cost, . . . 2,721 23 

Uncollected profit on bonds sold, . . . 4,803 18 

Total non-ledger assets, .... 



23,822 89 



Gross assets, $1,141,01' I 



NORTHWESTERN LIFE ASSURANCE CO. 



363 



Deduct Assets not admitted. 



Balances due from agents not secured by bonds, 
Bills receivable, not secured, .... 
Special deposit in Missouri, .... 
Total, - . 

Total admitted assets, .... 



$28,905 78 

10,823 72 

1,000 00 



$40,729 50 
. $1,100,280 52 



Liabilities. 
Death claims due and unpaid, . 
Advance assessments, 
Suspense account, .... 
Advance insurance and reserve fund, 
Total, 



Balance, 



$8,000 00 

7,938 27 

104 91 

183,029 58 



199,072 76 
$901,207 76 



Unmatured Mortuary and Disability Liabilities. 

Claims adjusted, not yet due, .... $225,200 00 

in process of adjustment, . . . 2,500 00 

resisted, 38,500 00 

reported, not in process, . . . 96,500 00 

Total, $362,700 00 



Funds called for. 
Assessment issued, not yet due, 



$10,000 00 



Business of 1898. 



In force January 1 , . 
Written during the year, . 
Increased during the year, 

Total, .... 
Ceased during the year, 

In force December 31, 

Claims unpaid January 1, 
Claims incurred in 1898, . 

Total, .... 
Claims paid during the year, 

Balance, 
Deduc'ns by compromising, 

Claims unpaid Dec. 31, 



Total Business. 
Number. Amount. 

34,717 $98,475,400 00 

1,965 4,118,000 00 

50,000 00 


Mass 
Number. 

825 
22 


BU8INESS. 

Amount. 

$2,546,500 00 
49,000 00 


36,682 $102,643,400 00 
16,251 47,815,000 00 


847 
231 


$2,595,500 00 
736,500 00 


20,431 

129 

492 


$54,828,400 00 

$474,717 00 
1,611,500 00 


616 

4 
9 


$1,859,000 00 

$18,500 00 
38,500 00 


621 
511 


$2,086,217 00 
1,681,612 00 


13 

9 


$57,000 00 
33,000 00 


110 


$404,605 00 
33,905 00 


4 


$24,000 00 
2,500 00 


110 


$370,700 00 


4 


$21,500 00 



364 



SECURITY MUTUAL LIFE INS TRANCE CO. 



"SECURITY MUTUAL LIFE INSURANCE COMPANY,"* 
BINGHAMTON, N. Y. 

[Incorporated Nov. 6, 1886. Commenced business Jan. 3, 1887.] 

W. G. Phelps, President. Charles M. Turner, Secretary. 

Income during 1898. 

First year's assessments (expense), $111,193 60 

Subsequent years' assessments (expense, $104,125.07 ; emer- 
gency, $269,256.71), 373,381 78 

Interest, $17,599.13; rents, $1,019.42, 18,618 55 

All other sources, 1,264 67 



Total income, 
Balance on hand Dec. 31, 1897, 
Mortuary and disability fund, . 
Emergency fund, 
Expense fund, . 



$504,458 60 
509,736 01 



£166,550 13 

303,825 73 

39,360 15 



Total, $1,014,194 61 



Disbursements during 1898. 



Death claims, $213,421.35; disability claims, 

$125, 

Advance payments returned, . 
Apportioned to members, .... 

Total paid to members, 
Com'ns to agents (new business, $106,452.99 

renewals, $31,872.97) 

Commissions for collecting assessments,. 
Salaries and allowances of managers and aof ts 

of officers, 

and other compensation of office emp. 
Medical examiner's fees, .... 

Taxes and fees, 

Rent, $5,623.64; legal expenses, $919.97, 
Advertising and printing, .... 

Postage, 

Furniture, 

Traveling expenses, 

Inspection of risks, 



$213,546 35 

118 49 

7,316 93 



$138,325 96 
13,567 49 
5,515 48 
5,624 96 
16,994 16 
8,421 50 
8,032 92 
6,543 61 
7,185 97 
2,602 05 
2,096 73 
4,965 96 
3,064 96 



$220,981 77 



* Formerly "The Security Mutual Life Association of Binghamton, New York;" name 
changed May 30, 1898. 



SECURITY MUTUAL LIFE INSURANCE CO. 365 



Depreciation of 1897 assets (agents' balances), $14,596 09 

Incidentals, 7,970 26 

Total expenses, . 



Total disbursements, . 
Balance on hand Dec. 31, 1898, 

Emergency fund, 

Expense fund, .... 

Invested in the following : — 



$245,508 10 
$466,489 87 
$547,704 74 



$482,054 89 
65,649 85 



Assets as per Ledger Accounts. 

Cost value of real estate, $9,966 45 

Loans on mortgages, 252,600 00 

Loans secured by pledge of bonds, stocks, etc., . . . 1,400 00 

Cost value of bonds owned, 131,000 00 

Cash in office, 4,547 87 

Cash in bank, 104,320 53 

Balances due from agents, 71,923 97 

Bills receivable, 17 68 

Cash in hands of attorney for tender, 408 00 



Total, $576,184 50 

Deduct balances due to agents, 28,479 76 



Ledger assets, as per balance, $547,704 74 

Non-Ledger Assets. 
Interest due, $287; accrued, $3,160.86, 3,447 86 



Gross assets, $551,152 60 

Deduct Assets not admitted. 
Special deposit in Missouri, 1,000 00 



Total admitted assets, $550,152 60 

Liabilities. 

Salaries, rents, expenses, etc., due or accrued, $8,758 83 

Instalment claims, 32,253 35 

Total, 41,012 18 



Balance $509,140 42 

Unmatured Mortuary and Disability Liabilities. 
Claim resisted, $10,000 00 

Funds called for. 
Assessment issued, not yet due, $53,515 34 



3G6 



SPRINGFIELD MUTUAL LIFE ASSOCIATION. 



Business of 1898. 



In force January 1, . 
Written during the year. . 


Total Bcwness. 
Number. Amount. 

11,033 $23,324,638 00 
2,703 6,284,269 00 


Mass. 
Number. 

421 
52 

473 
129 

344 

2 
2 

4 

4 


BCSISKSS. 

Amount. 

$918,500 00 
122,000 00 


Total,. 
Ceased during the year, . 


13,736 
3,128 


$29,608,907 00 
6,208,307 00 


$1,040,500 00 
270,000 00 


In force December 31, 

Claims unpaid January 1, 
Claims incurred in 1898, . 


10,608 

31 

87 


$23,400,600 00 

$66,855 00 
211,774 00 


$770,500 00 

$3,000 00 
4,000 00 


Total,. 
Claims paid during the year 


118 
98 


$278,629 00 
213,546 00 


$7,000 00 
6,200 00 


Balance, 
Deduc'ns by compromising, 


20 


$65,083 00 
22,830 00 


$800 00 
800 00 


Claims unpaid Dec. 31, 


20 


$42,253 00 


- 



SPRINGFIELD MUTUAL LIFE ASSOCIATION,* SPRINGFIELD, 

MASS. 

[Incorporated July 3, 1895. Commenced business Oct. 1, 1895.] 

Albert H. Overman, President. Charles H. Bartlett, Seer- 



Income during 1898. 

First year's assessments (expense), 
Subsequent years 1 assessments (expense, $5,354.05 ; mortu 
ary, $16,273.25 ; emergency, $2,127.01), 

Interest, 

Registered notice fees, 



Total income, 
Balance on hand Dec. 31, 1897, 
Mortuary and disability fund, . 
Emergency fund, 
Expense fund, .... 



Total, 



$8,989 62 
9,269 31 
4,708 67 



$16,403 83 

23,754 31 

1,160 79 

51 00 


$41,369 93 
22,967 60 



$64,337 53 



Disbursements during 1898. 

Death claims, $8,500 00 

Advance payments returned, .... 36 60 

Total paid to members, .... 



$8,536 60 



* March 23, 1899, this company reinsured all its outstanding risks in " The Fidelity Mutual Life 
Association " of Philadelphia, Pa. 



SPRINGFIELD MUTUAL LIFE ASSOCIATION. 



367 



Com'ns to agents (new business, $12,812.24 

renewals, 8631.02), .... 
Salaries and allowances of managers and ag'ts 

of officers, 

and other compensation of office emp. 
Medical examiner's fees, .... 

Rent, 

Advertising and printing, 

Traveling expenses, 

Incidentals, 

Total expenses, 

Total disbursements, .... 

Balance on hand Dec. 31, 1898, . 

Mortuary and disability fund, . 
Emergency fund, 



$13,443 26 


158 


74 


5,000 


00 


2,135 


93 


1,911 


96 


877 


54 


582 


31 


1,374 


62 


2,097 


81 




$27,582 17 



$36,118 77 
$28,218 76 



$18,252 69 
9,966 07 



Invested in the following : 



Assets as per Ledger Accounts 

Cash in office, .... 
Cash in bank, .... 
Balances due from agents, 
Bills receivable, 
Deposited with State Treasurer, 
All other assets, 



Total, 

Deduct balances due to agents, 

Ledger assets, as per balance, 



$131 30 

14,641 40 

2,990 91 

499 66 

10,240 00 

217 77 

$28,721 04 
502 28 

$28,218 76 



Non-Ledger Assets. 

Office furniture, 

Supplies, printed matter, stationery, etc., 

Total non-ledger assets, .... 



$800 00 
383 17 



1,183 17 



Gross assets, $29,401 93 



Deduct Assets not admitted. 



Furniture, fixtures and safes, .... 
Supplies, printed matter, stationery, etc., 
Balances due from agents not secured by bonds, 
Bills receivable, not secured, .... 
Total, 



$800 00 
383 17 

1,210 25 
499 66 



2,893 08 



Total admitted assets, 



$26,508 85 



368 



SPRINGFIELD MUTUAL LIFE ASSOCIATION. 



Funds called for. 
Assessment issued, not yet due, 



$5,492 49 



Business of 1898. 



In force January 1, . 
Written during the year, 

Total, . 
Ceased during the year, 



Claims unpaid January 1, . 
Claims incurred in 1898, . 

Total, .... 
Claims paid during the year, 

Balance, 
Deduc'ns by compromising, 



Total Business. 


Mass. 


BCSIVESS. 


Number. Amount. 


Number. 


Amount. 


1,036 $1,917,000 00 


851 


$1,424,000 00 


547 731,000 00 


382 


417,500 00 



1,583 $2,648,000 00 
431 875,000 00 



1,233 
329 



$1,841,500 00 
593,500 00 



»2 


$1,773,000 00 


904 


$1,248,000 00 


3 


$7,000 00 


2 


$6,000 00 


4 


3,500 00 


4 


3,500 00 



$10,500 00 
8,500 00 

$2,000 00 
2,000 00 



$9,500 00 
10 00 

$2,000 00 
2.000 00 



FRATERNAL 



BENEFICIARY ASSOCIATIONS. 



RECORD OF CHANGES IN FRATERNAL BENEFICIARY 

ASSOCIATIONS. 



Below is a list of the associations which were authorized to 
do business in this Commonwealth from Jan. 1, 1898, to date, 
and also a list of those which ceased to do business during the 
same period : — 

Associations authorized during the Year 1898. 



Name. 



Location. 



Date of 
Authority. 



South End Hebrew Benevolent Association, 
American Express Employees' Aid Society, 
The Cottage City Portuguese Benevolent Society, 

Catholic Order of Foresters, 

Ancient Dames of Malta Benefit Association No. 10, 

Boston Young Business Men's Association, 

Hebrew Fraternal Aid Association, . 

Our Lady Of Good Help Association, . 

Ligurian Mutual Benefit Association 



Boston, . 
Boston, . 
Cottage City, 
Chicago, 111., 
Boston, . 
Boston, . 
Haverhill, 
Lowell, . 
Boston, . 



Feb. 3. 

March 14. 

March 28. 

June 18. 



Oct. 
Oct. 
Nov. 
Dec. 
Dec. 



13. 

28. 
10. 
12. 
22. 



Associations authorized since Jan. 1, 1899. 



Grand Lodge of Massachusetts Order Sons of St. George, 
Independent Order Ahawas Israel, 



Supreme Lodge of the Portuguese Fraternity of the United States 
of America. 



Fidelity Benefit Association, 
Colonial Life Association, 



Cambridge, . 


Jan. 


11. 


New York, 
N. Y. 


March 


16. 


Cambridge, . 


April 


8. 


Boston, . 


May 


5. 


Boston, . 


May 


26. 



Associations ceasing to do Business during the Year 1898. 



Name. 


Location. 


Date. 


Remarks. 


Royal Italian Marine Society for Mutual 
Aid. 


Boston, 


- 


No business trans- 
acted since 1893. 


Boston Workingmen's Benefit Association, 


Boston, 


- 


Never commenced 
business. 


St. Michael's Mutual Benefit Society, 

» 


Boston, 


- 


Ceased business May 
9, 1894. 



372 



STATISTICAL TABLES. 



Associations ceasing to do Business during the Year 1808 — Concluded. 



Name. 



Location. 



Date. 



Remarks. 



Bradford Firemen's Relief Association, .Bradford, . 



Supreme Council Royal Conclave of BoBton, 
Knights and Ladies. 

Select Household Independent Household Fall River, . 
Associates. 



Standard Relief Association, 



. Boston, 



The South Shore Masonic Mutual Relief Weymouth, 
Association of Massachusetts. 

Supreme Council of the United Fellow- Boston, 
ship. 

The National Masonic Aid Association, . Westfield, 



South End Hebrew Benevolent Association, Boston, 

Unabhangiger Gegenseitiger Kranken Un- Boston, 
terstutzungs Verein von Boston High- 
lands. 

The Union, Boston, 



The Royal Crescent, 



Globe Street Railway Employees' Mutual 
Relief Association. 

Order of Fraternal Aid 



Provident Mutual Relief Association, 
The Ideal Benefit Association, . 



The "Woburn Mutual Benefit Association 
of Woburn, Mass. 

Shillaber and Company's Independent 
Labor Union. 



Grand Council of the Home Legion, . 



Boston, 
Fall River, 

Lynn, . 

Concord, N 
Beverly, 

Woburn, 

Lynn, . 

Boston, 



Dissolved June 22, 
1897, by Supreme 
Judicial Court of 
Essex County. 

. Jan. 31, Ceased business. 

. Feb. 2, Charter surrendered. 

. Feb. IS, No business trans- 
acted for twelve 
months, and char- 
ter invalid. 



. March 9, 

. March 10, 

. March 22, 

. May, . 
. May 10, 

. June 7, 

. Sept. 1, 
-fept. 13, 

. Sept. 23, 

H., Oct. 12, 
. Dec. 7, 

Dec. 7, 

Dec. 20, 

. Dec. 31, 



James H. Flint, re- 
ceiver. 

Oscar Storer, re- 
ceiver. 

Enjoined from doing 
business. 

Ceased business. 

Dissolved by Supreme 
Judicial Court of 
Suffolk County. 

Charles W. Spencer, 
receiver. 

Ceased business. 

' Perpetual injunction 
issued. 

Winthrop H. Wade, 
receiver. 

Withdrew. 

Alden P. White, re- 
ceiver. 

Perpetual injunction 
issued. 

Dissolved by Supreme 
Judicial Court of 
Essex County. 

No business trans- 
acted for twelve 
months, and char- 
ter invalid. 



Associations ceasing to do business since Jan. 1, 1899. 



The Queen Estha Association of Law- 
rence. 



Lawrence, . 



The Letter Carriers' Relief Association, . Worcester, 

The Imperial Council of the Order of New York, N.Y., 
United Friends. 



Feb. 25, 

March 31, 
April 11, 



No business trans- 
acted for twelve 
months, and char- 
ter invalid. 

Ralph A. Stewart, re- 
ceiver. 

Isaac B. Barrett, re- 
ceiver. 



FRATERNAL BENEFICIARY ASSOCIATIONS. 



373 





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r— < 


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1—1 


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(— 1 


1— < 



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09 

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w 

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« 

CO 

« 
o 
p. 
o 



M 



09 

2 



o 
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CO 
tD 



o 
a 
o 
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o 
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tc 



a 
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a a » S 

•-a Ha ■< Ha 



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5 



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5 






pq hq 



a 



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03 

B 
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09 
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2 







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a 

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B 

B 
o 

2 

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o 


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pq 



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374 



STATISTICAL TABLES. 



3 



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m 

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3 








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k 








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p 

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s 

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cs 

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la 

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FRATERNAL BENEFICIARY ASSOCIATIONS. 



375 





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a 


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w 


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CO 


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3 


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o 

tc 

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OQ 



376 



STATISTICAL TABLES. 






a 



o 

- 
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b 

B 

V 

c 
B 

V 

00 


3 
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s 


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5 




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d 

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1 


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to 

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o 


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FRATERNAL BENEFICIARY ASSOCIATIONS. 



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STATISTICAL TABLES. 



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390 



STATISTICAL TABLES. 



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FRATERNAL BENEFICIARY ASSOCIATIONS. 391 

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392 



STATISTICAL TABLES. 









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